Daily deals company Groupon Inc (NASDAQ:GRPN) announced its latest offering known as the “Groupon Reserve,” which is intended to offer premium deals from the top brands, entertainment & travel, restaurants, hotels, salons and spas.
According to the daily deals company, the reservations engine of Savored.com allows customers to book tables at some of the best restaurants in different cities offering a discount of as much as 40 percent. The company is a pioneer in implementing the concept of yield management for fine dining restaurants. It was acquired by Groupon Inc (NASDAQ:GRPN) in 2012.
Groupon Reserve A Significant Step – CEO
In a statement, Eric Lefkofsky, chief executive officer of Groupon Inc (NASDAQ:GRPN) said that Groupon Reserve is a significant step for the company to become the leading marketplace for online deals. “Consumers can come to Groupon and discover great businesses at unbeatable prices,” said Lefkofsky.
Lefkofsky added that Groupon have evolved, and the management of the company observed the growing demand from its customers for upscale offers and exclusive experiences. According to him, “Reserve gives the most prestigious brands a new way to reach our large and desirable audience.”
Groupon Inc (NASDAQ:GRPN) said that the Reserve platform provides consumers with a discount on their entire check. A pre-payment or voucher is not required. It also provides local businesses with the ability to increase traffic during slow periods through flexible pricing.
Lefkofsky said, “Whether it’s because of a slow night or a last minute no-show, even the best restaurants have empty tables. Reserve provides these businesses with a yield management solution to bring customers through their doors at the times they need them the most.”
Groupon Reserve Availability
Groupon Reserve platform is available in ten markets including Atlanta, Boston, Chicago, Denver, Los Angeles, Miami, New York City, Philadelphia, San Francisco and Washington, D.C. The company plans to expand its premium offering to additional cities in the country as well as in key international markets by the end of the current year.
According to Groupon Inc (NASDAQ:GRPN), more than 600 of the best restaurants in the United States including Le Cirque in New York City, Chaya Brasserie in Los Angeles and db Bistro Moderne in Miami are offering discounted reservations using Groupon Reserve.
Meanwhile, analysts at Deutsche Bank AG (NYSE:DB) (ETR:DBK) previously recommended a buy rating for the stock of Groupon Inc (NASDAQ:GRPN) citing an improvement in marketing cost. The stock price of the company is up by nearly 1 percent to $$8.60 per share on Monday afternoon trading.