One of Austin’s most acclaimed restaurants has permanently closed its doors, proving that even a Michelin star cannot always protect a business from today’s harsh economic realities. Olamaie, a beloved Southern fine dining restaurant, served its final meals on July 19 after nearly 12 years in operation.
From Local Favorite to Michelin Recognition
Chef and owner Michael Fojtasek opened Olamaie in 2014, building it into one of Austin’s most celebrated dining destinations. When the Texas Michelin Guide launched in 2024, Olamaie earned a star — one of the first Austin restaurants to receive the honor. It retained that star the following year and gained national attention for its modern approach to Southern cuisine.
Why the Restaurant Closed
Despite its prestigious reputation, Fojtasek said the financial pressures became impossible to ignore. He pointed to soaring labor costs, high operating expenses, slow summer foot traffic, and a lack of late-night business as the main reasons behind the closure.
While the Michelin star brought a boost in reservations, Fojtasek noted the surge lasted only a few months before business returned to normal levels. He described Austin as one of the toughest restaurant markets he has worked in — more difficult, he said, than New York or Los Angeles.
Part of a Bigger Problem
Olamaie’s story is not unique. Restaurants across the country are shutting down at alarming rates as rising wages, inflation, and higher food costs continue to squeeze profit margins — even for award-winning establishments.
What’s Next for the Chef
Fojtasek is not stepping away from the industry. He plans to continue through his Gimme Burger concept and food and beverage projects near Houston.