Landlord Jacks Up Restaurant’s Rent After Michelin Recognition, Forcing Them to Move
We imagine that Kai Kai Dessert, a popular sweets shop in Jordan, Hong Kong that has been around for 40 years, was thrilled to make the 2016 Hong Kong Michelin Guide’s new street food section.
But international Michelin fame comes with a hefty price, literally. Kai Kai Dessert recently posted a sign announcing the recognition and thanking their customers.Soon thereafter, Kai Kai owner Ming Pao said that their landlord more than doubled their rent from HK $100,000 to $HK 220,000, according to the Hong Kong Free Press. The new price, Pao said, was not one that the small, family-owned business, known for selling traditional Chinese desserts, could afford.
The restaurant would have had to shut down for good, but instead they deserted their former location, and thanks to a regular customer’s kindness, were able to move into a nearby space on Ning Po Street for $90,000 per month, lower than the advertised market price.
Kai Kai Dessert will be re-opening in March after their close brush with death via jacked-up rent prices.