SAN FRANCISCO, May 31, 2012 /PRNewswire/ -- OpenTable, Inc. (NASDAQ: OPEN), the world's leading provider of free, real-time online restaurant reservations for diners and reservation and guest management solutions for restaurants, today announced that toptable, its leading consumer destination site for restaurant reservations in the UK, has been redesigned and re-architected to significantly enhance the selection, review and reservation experience for diners and help restaurateurs fill more seats.
"We're incredibly excited about this milestone in our company's history and what it means for our diners and restaurant customers in the UK," said Matt Roberts, CEO of OpenTable. "When we acquired toptable, the vision was to provide superior service and delight our diners by combining the UK's most popular destination site for restaurant reservations with our best-in-class technology. Over the long-term, we believe this combination will grow our business in the UK in a meaningful way by making the restaurant booking experience more enjoyable for diners and helping our restaurant customers fill more seats."
The integration of OpenTable technology into the toptable site and toptable mobile solutions provides diners with a significantly enhanced restaurant discovery and booking experience at thousands of the UK's finest restaurants. By taking advantage of the new real-time availability interface, diners are now presented with a list of all restaurants that can accommodate their desired date, time and party size within the geographic area they select. Once their reservation is booked, diners receive an instant confirmation and have the ability to modify or cancel their reservation in real-time.
In addition to the new real-time availability functionality, diners now have access to the new toptable dining rewards program, which allows them to earn reward points each time they are seated via a toptable reservation. Dining rewards points are redeemable for toptable dining cheques, which can be used at any restaurant on toptable.
For the restaurants in the UK using OpenTable technology, the new site, which combines real-time reservation availability with the vast network of toptable diners, is designed to help restaurateurs manage their bookings more effectively, enhance their service levels, seat more diners, and maximize their business potential.
OpenTable has more than 25,000 restaurant customers worldwide, which include about half of all Michelin starred restaurants in the UK, and nearly all Michelin starred restaurants in the U.S. The company has seated more than 325 million diners around the world, representing more than $10 billion in revenue generated for OpenTable restaurant customers. In addition to its consumer destination sites OpenTable.com and toptable.co.uk, OpenTable has more than 600 partners worldwide, including American Express, Bing, Google, Square Meal, Time Out, Yahoo!, Yelp, and Zagat.
This press release and its attachments contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks and uncertainties. These forward-looking statements include the quotations from management in this press release, as well as any statements regarding the Company's strategic and operational plans. The Company's actual results may differ materially from those anticipated in these forward-looking statements. Factors that may contribute to such differences include, among others, the impact of the current economic climate on the Company's business; the Company's ability to maintain an adequate rate of growth; the Company's ability to effectively manage its growth; the Company's ability to attract new restaurant customers; the Company's ability to increase the number of visitors
to its website and convert those visitors into diners; the Company's ability to retain existing restaurant customers and diners or encourage repeat reservations; the Company's ability to successfully enter new markets and manage its international expansion; the Company's ability to successfully manage any acquisitions of businesses, solutions or technologies; interruptions in service and any related impact on the Company's reputation; and costs associated with defending intellectual property infringement and other claims. More information about potential factors that could affect the Company's business and financial results is contained in the Company's annual report on Form 10-K for the year ended December 31, 2011 and the Company's other filings with the SEC. The Company does not intend, and undertakes no duty, to update this information to reflect future events or circumstances.
About OpenTable, Inc.
OpenTable is a leading provider of free, real-time online restaurant reservations for diners and reservation and guest management solutions for restaurants. The OpenTable network delivers the convenience of online restaurant reservations to diners and the operational benefits of a computerized reservation book to restaurants. OpenTable has more than 25,000 restaurant customers, and, since its inception in 1998, has seated more than 325 million diners around the world. The Company is headquartered in San Francisco, California, and the OpenTable service is available throughout the United States, as well as in Canada, Germany, Japan, Mexico, and the UK. OpenTable also owns and operates toptable, the leading restaurant booking service in the UK.
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