BIG…HUGE news for the restaurant industry. The travel site Priceline announced in a press release that they would be adding OpenTable to their portfolio of acquisitions. The purchase will cost 2.6 billion. Why is this important to you as a restaurant owner or manager?
Priceline Group to Acquire OpenTable
* 31,000 restaurants are on OpenTable
* 15 million people use OpenTable monthly
* It has a google glass app which allows you to make reservations without touching your phone or computer
OTHER COMPANIES OWNED BY PRICELINE
* Quickcue, Rezbook, Foodspotting (once the OpenTable acquisition goes through)
This probably means that OpenTable will be somehow integrated into these platforms giving you more reach.
On top of all this, OpenTable partnered with Facebook so its users can make reservations directly from restaurants’ mobile Facebook pages. OpenTable has also been playing with a payment feature to allow members to pay via their app AND they’re testing out “Hot Tables” which helps their users get reservations at hot restaurants.
HOW OPENTABLE WORKS
* Booking through the restaurant website via the OpenTable widget cost $0.25 per seated diner.
* Booking through OpenTable directly costs the restaurant $1.00 per seated diner
* OpenTable allows restaurants to keep notes on customers
* OpenTable users earn points by dining out that can be used towards meals in the future
* Resy: Ben Leventhal and Gary Vaynerchuk are launching this reservations system that charges diners, not restaurants.
* Yelp: Free reservations for restaurants that have claimed their listings.
* CityEats: Last we heard, it had been put up for sale by Scripps Network Interactive. The system is available in Chicago; Washington, D.C.; Philadelphia; Phoenix; New Orleans; New York; and parts of South Florida.
* TripAdvisor: They recently purchased LaFourchette, which is quite similar to OpenTable but serves the European market.