Foodie News
What recession? Forbes finds a Houston restaurant that made $20 million lastyear
Photo by James Dean
Tony and Donna VallonePhoto by Barbara Kuntz
Who is the richest restaurateur in town? According to Forbes, it's Tony Vallone. Apparently when you combine, ahem, discriminating prices with a packed restaurant of loyals who can afford it, the result is easy money. Who knew?
For its list of the highest-grossing restaurants in the United States, Forbes and food industry marketing research company CHD Experts looked at earnings from June 2010 to June 2011, excluding restaurants that aren't stand-alone (aka no casinos) and ones that turn into nightclubs at night.
According to them, Tony's comes in fourth in the entire country, earning a staggering $20 million during that 12-month period. That figure doesn't even include alcohol sales, which is a significant factor at Tony's — as Forbes points out, a bottle of 1795 Madiera there is priced at $13,000.
The only earners ahead of Tony's were Bob Chinn's Crab House in Illinois, which serves 2,500 customers a day to the tune of $24 million, as well as Grill on Main in Martha's Vineyard and Sparks Steak House in New York. Tony's was the only Texas restaurant on the list of 10.
