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Palace Restaurant Review: Ensconced in the historic Cincinnatian Hotel, the Palace has long held a reputation as one of the city's most elegant dining spots. At this time, the restaurant is in a state of transition with a new chef, Matthew Beaudin, who clocked time in Hong Kong, the Caribbean and recently in the central African village of Musanze. The menu reflects tastes of the world, from Hudson Valley foie gras to New Zealand lamb or Georges Banks scallops. One thing is bound to stay the same: Palace will remain a place where people go to celebrate birthdays, anniversaries and events that call for white tablecloths and polished silver.