July 25, 2011

Savored Announces Partnership with OpenTable

NEW YORK, July 25, 2011 /PRNewswire/ -- On the heels of a new name, a revamped web site and a significant market expansion, Savored, the web's leading service for accessing insider pricing at premier restaurants nationwide, announces today a partnership with OpenTable, Inc. (NASDAQ: OPEN) to provide Savored 30% Off Deals on OpenTable.com. The Savored program debuts today on the San Francisco Bay Area homepage of OpenTable and will expand to other U.S. markets over time.

The extension of Savored dining offers to the OpenTable network, which seats more than 7 million diners each month, is designed to help fill more restaurant tables that would otherwise go empty and to streamline operations by integrating with the OpenTable Electronic Reservation Book at the host stands of participating restaurants. The Savored offers provide diners with 30 percent off the price of their entire meal at premier restaurants on select dates and times in exchange for a $10 reservation fee.

"By partnering with OpenTable, we will be able to provide our marquee restaurant partners across the country with additional exposure to and seamless redemption from diners," says Ben McKean, Chief Executive Officer of Savored. "We are excited to further develop our service with OpenTable and to continue delivering value to both our restaurant partners and our diners, who look to discover the best restaurants across the country."

"Savored dining deals complement our existing offers programs, including Spotlight and 1,000-point tables, by providing compelling promotions in association with specific dates and times - a great value for diners and a powerful tool for restaurants to grow their businesses profitably," said Matt Roberts, Chief Executive Officer of OpenTable. "Savored has a broad selection of great restaurants offering an appealing promotion, and we believe that by working together we can enhance the experience and benefits for both restaurateurs and diners."

OpenTable diners can access the new offers program by visiting the Deals and Local Events section on the San Francisco Bay Area section of OpenTable.com. From there, diners can quickly see a list of all restaurants participating in 30% Off Deals and then find and book qualifying reservations. For a table of four OpenTable diners with an average estimated dining check totaling $170, 30% off translates into a savings of more than $40 after accounting for the $10 reservation fee.

Once the diner makes a reservation, that reservation is automatically flagged in the restaurant's OpenTable Electronic Reservation Book as a Savored offer booked via OpenTable so that Savored's commitment to discretion is maintained: diners don't need to print and present paper coupons or certificates to redeem their deals.

"Our partnership with Savored has allowed us to increase our reservations at times when tables may have otherwise gone unseated," says Jon Sloane, manager of Mountain View's Michelin recognized Chez TJ. "It's important that we always have total control over the amount of tables we discount, so the combined effort of Savored's business model coordinated with the ability to utilize our OpenTable Electronic Reservation Book for redemption is truly the perfect match for offering diners premium dining experiences."

Savored currently serves Atlanta, Boston, Chicago, Denver, Los Angeles, Miami, New York City, Philadelphia, San Francisco, and Washington D.C. with over 500 high-end restaurant partners.

About Savored

Savored is a members-only service offering insider pricing of 30% off all food and drink at leading restaurants in Atlanta, Boston, Chicago, Denver, Los Angeles, Miami, New York, Philadelphia, San Francisco and Washington, D.C. With Savored, members access a curated selection of restaurants, book reservations online and enjoy 30% discounts discreetly applied to their final bill. The company's mission is to help members enjoy unforgettable dining experiences. For more information, visit Savored.com.

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 20,000 restaurant customers, and, since its inception in 1998, has seated more than 200 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 United Kingdom. OpenTable also owns and operates toptable.com, a leading restaurant reservation site in the United Kingdom.

SOURCE Savored