From Miami to Dubai and Beyond: The Greek Family Restaurant Taking on Nobu
Costas Spiliadis, the mastermind behind the Milos restaurant empire, has created a luxury hospitality brand that stands toe-to-toe with global giants like Nobu and Carbone. His empire, which includes eleven restaurants from Miami to Dubai, a boutique hotel in Greece, and a fleet of yachts, is valued at over $100 million. At 78, Spiliadis remains driven, continuously expanding his luxury hospitality portfolio.
From Humble Beginnings to Global Success
The odyssey of Milos began many years ago. In 1965, a teenage Costas Spiliadis departed from Patras, a port city in Western Greece near the ancient village of Olympia, with nothing but two suitcases filled with clothes and a few vinyl records. His destination was New York City, where he enrolled at New York University. The cultural shock was significant, leading him to transfer to Concordia University in Montreal in 1971, where he studied sociology.
After graduating, Spiliadis took a different path, helping to establish a local radio station and hosting a daily news show for a largely immigrant audience. However, financial struggles were constant, and after six years, Spiliadis decided to pursue his passion for food. He envisioned a space where his radio guests could dine and perform live after their broadcasts.
In 1979, Spiliadis took out a $30,000 loan from a local bank and ventured into the restaurant business. Despite having no professional cooking experience, he relied on his mother’s cherished recipes. “I had nothing. I had no money. I had no experience. I had no knowledge of cooking,” Spiliadis reflects. “All I knew was how I enjoyed food at home. I had to learn to run a restaurant the hard way, in an unforgiving market. It meant dedication, persistence, and hard work, all while learning on the job.”
With his first restaurant in Montreal, Spiliadis focused on delivering the freshest seafood daily. He felt that Greek restaurants were not truly representing the culinary experience he had grown up with. “Greek cuisine suffered a low image,” he notes. He was determined to change this perception, even if it meant importing many ingredients from Greece.
To ensure the highest quality seafood, Spiliadis began a grueling routine of driving 750 miles round-trip twice a week to New York City’s Fulton Fish Market. In 1980, he convinced David Samuels, the owner of Blue Ribbon Fish Company, to work with him despite the business’s usual practice of not supplying restaurants. Spiliadis promised to “never ask the price of the fish” and paid in cash upfront—a remarkable practice in an industry where payments are often settled 30 to 90 days post-delivery.
Samuels tested Spiliadis’s commitment, once telling him, “I can’t charge you enough to make it worth my while.” To which Spiliadis responded, “Yes, you can.” Samuels acknowledged Spiliadis’s insight: “He understood better than me that people were willing to pay more. Overcharging him 30 or 40 cents a pound in my business is significant, but in his business, it meant nothing because his prices reflect extraordinary quality. As expensive as it is, his clientele knows it’s great value. There’s no compromise.”
This dedication to quality and uncompromising standards laid the foundation for the growth and success of the Milos restaurant empire, illustrating Spiliadis’s journey from a determined immigrant to a prominent restaurateur with a $100 million family-owned enterprise.
The Expansion and Diversification of the Milos Brand
Spiliadis’ expansion strategy has been to grow the Milos brand carefully and deliberately. The first Milos restaurant in New York, opened in 1997, was a significant milestone. By 2010, the Milos empire had expanded to Miami, Athens, and Las Vegas. The brand now includes eleven locations worldwide and a $30 million investment in a boutique hotel in Athens.
“We had a choice of either going the corporate way of growth, where we create a very strong corporate central office, or the family model of growth,” Spiliadis explains. “Although it might limit the pace of growth, it ensures that we maintain our identity and character.”
Spiliadis’ commitment to maintaining control over the brand has allowed him to ensure that each location upholds the high standards of Milos. The family-run approach means that every restaurant reflects the values and vision of its founder, with a focus on luxury and quality.
Yachts for Charter: Milos At Sea
In addition to restaurants and hotels, Spiliadis has ventured into luxury yacht charters with the Milos At Sea fleet. The fleet includes a 113-footer acquired in 2014 for $14 million and a 57-footer bought in 2017 for $2.8 million. Chartering a yacht from Milos At Sea costs $65,000 per week for up to ten people, with the smaller yacht available for $3,500 per day for six.
“Chartering ‘Milos at Sea’ for a week in Greece starts at $65,000 for up to ten people,” Spiliadis notes. “The smaller yacht rents per day at $3,500 for six.”
These yachts offer the same high-quality experience as the Milos restaurants, reflecting Spiliadis’ dedication to excellence.
Boutique Hotel in Athens: A $30 Million Investment
Spiliadis has also invested $30 million in a boutique hotel in Athens, enhancing his luxury hospitality offerings. This hotel represents another facet of his strategy to combine high-end dining with upscale accommodations.
“The boutique hotel in Athens is just one part of our growing portfolio,” Spiliadis says.
Family Involvement and Future Plans
Looking ahead, Spiliadis is planning further expansion. He is exploring the addition of more yachts to the Milos At Sea fleet and is developing a luxury cooking school in Kythera, a Greek island where he is restoring a 200-year-old village. Spiliadis is also working on a line of high-end pantry items, including olive oil and artisanal honey from his property on Kythera.
Spiliadis’ children play integral roles in the Milos empire. His son George, 44, serves as Chief Business Officer, overseeing the restaurants and focusing on Greek wines. His daughter Evridiki, 49, previously managed the Athens restaurant and now serves as Chief Brand Officer, responsible for marketing and restaurant design.
“We intend to keep it as a family business,” Spiliadis confirms. “My children work alongside me, and we plan to pass it on to them.”
Instagram: @estiatoriomilos
Photos: Instagram
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