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At the WSTA Annual Summit held last week, iconic restaurateur Jeremy King made a compelling case for risk as a lifeline – not just a gamble – especially during challenging times.
Jeremy King, the hospitality legend long revered as the "restaurateur's restaurateur," captivated the audience at this year's WSTA Annual Summit with a blend of storytelling, philosophy, and hard-earned wisdom. Known for landmark establishments such as The Ivy, The Wolseley and The Delaunay, and now for new restaurants The Park and Arlington, King has lived through hospitality’s golden moments and darkest hours.
But his message was clear: if you want to thrive – not just survive – risk isn’t optional.
From the very beginning, King has been defined by his unconventional choices. Famously, he turned down a place at Cambridge University after a literal roll of the dice. Inspired by the cult novel The Dice Man, King said, “I like taking risks because unless we take risks, we risk becoming mundane. There has to be danger.” That philosophy extended to his professional life, where decisions were often gut-led and over time shaped by experience.
His big break in hospitality came after another dice roll: “If this comes up with a double six, and I get to manage this wine bar within a month, I’ll stay in this business for life,” King recalled. It did – and the rest was history..
The most dramatic chapter in King's story came in 2022 when he and longtime partner Chris Corbin lost control of their business after a technical administration issue. For many, it would have signaled the end. For King, he saw it as a new opportunity and another chance to redefine himself.
“There was nothing wrong with the company,” he explained. “But they were technically able to put us into administration. I had to decide: do I go on fighting, or do I walk away?”
Ultimately, he let it go – and reinvented himself by starting again.
"It might be the best thing ever," he told his backers at 2 a.m. during final negotiations. “It’ll emancipate me, clear the slate. And it has been great.”
King rejects the conventional wisdom of tightening belts during downturns. “Battening down the hatches contracts everything – staff smell fear, customers smell fear. Instead, we should find new ways to grow.”
He illustrated this with a simple restaurant maths problem: cutting one waiter might save some costs, but it loses the profit from three to four potential customers. “Why not keep the waiter and get more customers,” he challenged. For King, looking at a challenge as an opportunity is much more a mantra than just a trite phrase.
It’s this belief in expanding during contractions that has shaped his latest ventures, including the acclaimed Arlington and the innovative The Park restaurant. “Generosity is what really counts now,” he said. “Give people the opportunity to spend a lot – but don’t make it mandatory.”
One of King’s defining philosophies is humanity – both in business and in leadership. “I want to work somewhere where the owner knows my name,” a former chef once told him. That stuck.
He believes in rewarding with recognition, not just money. “Catch people doing things right,” he said. “We spend so much time finding what’s wrong – imagine if we flipped that.”
He also practices what he preaches. “I’ve been here a month,” a staff member once told him, “and you know my name. You’ve talked to me six or seven times. Where I was before, I met the owner three times in six years.” Be human and connecting is all part of how King believes creates a hospitable work environment and a core pillar of hospitality.
King shared a poignant anecdote from his daughter’s successful New York bar. After a minor disaster involving muddied coats, a cloakroom staff member approached her and said, “You told us to ask for help. I need help.” They got through it with humour – and humility.
“Humour is a state of mind. It’s not a business strategy – but it’s how you survive,” King said.
For King, the difference between a restaurant owner and a restaurateur lies in presence and empathy. “A restaurant owner does it from the boardroom. A restaurateur does it on the floor,” he said. “Authority is not about policing. It’s about trust.”
He shared a philosophy that guides his delegation strategy: never delegate unless you have 100% confidence in someone’s ability. “That ‘should’ word is dangerous,” he warned. “Everything I’ve regretted doing, I did because I thought I should.”
King called on the trade to be bold , be brave and have courage to continuously change. He addressed aquestion from the audience about whether now – with inflation, staffing shortages, and economic uncertainty – is really the time to take risks.
His answer was unequivocal: “If we rely on what has been successful for us in the past to continue our success, we will fail. Now is the time to change.”
He urged the industry not to shrink back in fear, but to innovate, support their people and trust their instincts. “Things always come around,” he said, “as long as we don’t just cling to what we’ve done before.”
Photo Credit: WSTA, AlistairVeryard.com