Groupon takes on OpenTable with 'Groupon Reserve,' bundles reservations with coupons

Not satisfied with simply locking down your discount mountain-climbing lessons and hot stone massages, Groupon announced Groupon Reserve this morning, which aims to bundle time-based discounts with restaurant reservations. Groupon's tapping Savored.com's reservation tech to handle the heavy-lifting behind the scenes -- the service is already live in 10 markets, including New York City and Los Angeles, and seemingly goes after OpenTable head-on.

Of course, Groupon Reserve isn't quite the same service as OpenTable. With Reserve, you plug in a time, party size, date and city, and you're offered a variety of restaurant options with discounts, whereas with OpenTable you're simply plugging in the aforementioned info and looking for a spot. Though Groupon Reserve only handles restaurant reservations thus far, the plan is for "spas, salons and hotels" in the coming months; ambiguous options from "top beauty, product, travel and entertainment brands" are also in the cards. Groupon Reserve will reach international shores and even more US cities "by the end of 2013." Now if you'll excuse us, we're arranging a more affordable date at Butter. We're pretty fancy.

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Groupon Expands Premium Offerings with Groupon Reserve

Reservations service for restaurants launches high-end Groupon channel

CHICAGO--(BUSINESS WIRE)--Today Groupon (http://www.groupon.com) (NASDAQ: GRPN) announced Groupon Reserve, the premiere destination for the finest things to eat, see, do and buy. Debuting on Reserve is Savored.com's reservations engine that lets customers book tables at some of the best restaurants in their city at discounts of up to 40 percent.

"Reserve provides these businesses with a yield management solution to bring customers through their doors at the times they need them the most."
In the future, Reserve will also feature premium deals and experiences from top beauty, product, travel and entertainment brands, as well as similar reservations capabilities for spas, salons and hotels.

"Groupon Reserve is an important step in our journey to become the leading marketplace for online deals, where consumers can come to Groupon and discover great businesses at unbeatable prices, " said Groupon CEO Eric Lefkofsky. "As Groupon has evolved, we've seen growing demand from our customers for upscale offers and exclusive experiences. Reserve gives the most prestigious brands a new way to reach our large and desirable audience."

The Reserve reservation platform gives customers a discount off their entire check without requiring pre-payment or vouchers and provides local businesses an important tool to drive traffic during slow periods by utilizing flexible pricing.

"Whether it's because of a slow night or a last minute no-show, even the best restaurants have empty tables," Lefkofsky said. "Reserve provides these businesses with a yield management solution to bring customers through their doors at the times they need them the most."

Reserve reservations are live in 10 markets: Atlanta, Boston, Chicago, Denver, Los Angeles, Miami, New York City, Philadelphia, San Francisco and Washington, D.C., with plans to expand to more cities in the United States and in key international markets by the end of 2013.

Reserve currently offers discounted reservations to more than 600 of the country's top restaurants, including Le Cirque in New York City, Chaya Brasserie in Los Angeles and db Bistro Moderne in Miami.

Savored, acquired by Groupon in September 2012, pioneered the concept of yield management in fine dining establishments. The Reserve reservations team is led by Savored founder Ben McKean and based in Groupon's New York offices.

To view available Groupon Reserve deals and reservations, consumers can visit the Reserve tab at the top the Groupon homepage. Businesses interested in featuring their businesses on Reserve can visit https://www.grouponworks.com/merchant-solutions/groupon-reserve.

About Groupon

Groupon (NASDAQ: GRPN) is a global leader in local commerce, making it easy for people around the world to search and discover great businesses at unbeatable prices. Groupon is reinventing the traditional small business world by providing merchants with a suite of products and services, including customizable deals, payments processing capabilities and point-of-sale solutions to help them attract more customers and run their operations more effectively. By leveraging the company's global relationships and scale, Groupon offers consumers incredible deals on the best stuff to eat, see, do, and buy in 48 countries. With Groupon, shoppers discover the best a city has to offer with Groupon Local, enjoy vacations with Groupon Getaways, and find a curated selection of electronics, fashion, home furnishings and more with Groupon Goods. To subscribe to Groupon emails, visit www.Groupon.com. To learn more about the company's merchant solutions and how to work with Groupon, visit www.GrouponWorks.com.

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Groupon takes on OpenTable with 'Groupon Reserve,' bundles reservations with coupons