NEW YORK – Costas Spiliadis, the mastermind behind a $100 million Greek restaurant empire, was spotlighted in Forbes on August 1. The article detailed how he transformed the original Milos in Montreal into a renowned New York seafood restaurant, expanding to 10 other locations from Las Vegas to Dubai.

Forbes reported that four more restaurants, including those in Palm Beach and Toronto, are nearing completion. Spiliadis also owns a boutique hotel in Athens and two yachts available for charter in Greece, marking the beginning of his diverse luxury hospitality portfolio.

The Milos empire, named after the Greek island Spiliadis frequently visited, is now a significant player in the luxury hospitality industry. Fully owned by Spiliadis and his family, the business generates over $100 million in annual revenue. In an era of external funding, Spiliadis has opted to grow independently.

Spiliadis described his choice between corporate expansion and a family growth model, ultimately choosing the latter to maintain the identity and character of his restaurants. Although slower, this approach allows him to control the essence of his establishments.

His journey began in 1965 when he moved from Patras to New York City to attend NYU, later transferring to Concordia University in Montreal to study sociology. After a stint in radio, Spiliadis took a $30,000 loan in 1979 to open his first restaurant, despite having no prior experience in the industry.

The first Milos restaurant in Montreal focused on serving the freshest seafood, with recipes inspired by his mother and ingredients imported from Greece. Spiliadis noticed that Greek cuisine was often underrepresented and sought to change that with his approach to dining.

In New York City, Spiliadis’s restaurants have thrived, driving global expansion. He remains disciplined in selecting locations, focusing on changing neighborhoods with cheaper rents. His growth strategy includes licensing deals and joint ventures, ensuring he retains control over key aspects like hiring and ingredient sourcing.

Spiliadis also ventures into luxury yacht charters, offering Milos-quality food and service in the Mediterranean. His two yachts, a 113-footer and a 57-footer, cater to high-end clients, with potential plans to expand this fleet.

Looking ahead, Spiliadis envisions a hotel or beach club in Mykonos and a luxury cooking school on the island of Kythera. There, he has been restoring a 200-year-old village and producing high-end pantry items, including sea salt, wild honey, and olive oil from his 2,000 olive trees.

Spiliadis plans to pass the Milos empire to his two children, George and Evridiki, who are actively involved in the business. Despite his success, Spiliadis continues to cook for his family every Sunday in Quebec.

“We intend to keep it as a family business,” Spiliadis affirmed to Forbes.