FERGUS HENDERSON AND PASCAL AUSSIGNAC RESTAURANTS AMONG THOSE SET TO INCREASE TABLE OCCUPANCY THROUGH NEW, HIGH-END BOOKING SERVICE
St John Hotel and Club Gascon join celebrity chefs and Michelin-starred restaurants on table7 to fill vacant tables, particularly at ‘off peak’ times, and increase profits
LONDON, UK – Some of London’s most respected, high-end restaurants have signed up to an innovative new service that aims to fill vacant tables, particularly at ‘off peak’ dining times, by offering discerning diners exclusive access to discreet, preferential pricing.
The service, called table7, is the first of its kind in the UK. It optimises the usage of excess capacity for restaurants by introducing the economic model of variable pricing (the model adopted by airlines to fill empty seats) to the high-end restaurant sector.
table7’s members are typically offered a discount of 30 per cent off their entire bill when they book tables through the table7 website (www.table7.com).
To ensure the commitment to the booking, a fee of £7 is charged to the customer. table7’s discount is discreetly added by restaurant staff at the end of the meal, when the bill is presented. There is no set-up charge for restaurants to use the service. Instead, table7 takes its revenue directly from the customer when bookings are made.
table7 has been created specifically to serve high-end restaurants who have expressed concerns about devaluing their brand through mass-market and indiscriminate voucher websites. With table7, high-end restaurants will only be listed amongst their peers. In addition to this, rather than charging restaurants, table7 has been built to take its core revenue from customers. This fee will help minimise bookings from coupon-driven ‘bargain hunters’ with whom high-end restaurants would be unlikely to build long term, repeat custom.
Ashwin Jain, who formerly worked in the City with Deutsche Bank, co-founded table7. He comments: “When applied to the high-end restaurant sector, the concept of variable pricing creates huge opportunities. The high levels of service mean that these restaurants have high fixed-costs. However, demand throughout the day is variable, meaning that their income fluctuates. table7 is attempting to boost the yield on capacity during these times.
“We created table7 as a vehicle to apply the variable pricing model without compromising the brand values of these businesses that rely on a reputation of excellence and satisfied customers to deliver long-term value. To date, we’ve been overwhelmed by the response to the service. Already, we have Michelin starred-restaurants and establishments from some of the world’s top chefs set up on table7. By connecting them with new, discerning diners, we hope to foster word-of-mouth recommendations for their businesses amongst influential peers and build greater, long-term profitability.”
The service from table7 is now live. Restaurants wanting to find out more about table7 can get in touch via the form on the table7 website at http://www.table7.com/contacts/
The first ever high-end restaurant census
To ensure that table7 continues to be optimised for high-end restaurants, it has launched the first ever ‘census’ into this sector.
The results from this ‘census’ will provide insight into the challenges and opportunities for high-end restaurants. Restaurants wishing to take part and find out the results from this ‘census’, should visit http://www.surveymonkey.com/s/GP6LK8Y.
table7 is dedicated to meeting the specific needs of high-end restaurants and the discerning customer. It works with each business to increase diner awareness of, and access to, unused table inventory using preferential rates and a customer-focussed approach to deliver increased booking rates and high perceived customer value.
table7 offers discreet discounts (typically 30 per cent off the entire bill, although this can vary) for some of London’s most respected high-end restaurants, including Michelin-starred ones. Customers pay a service fee of £7 to table7 when reserving tables on www.table7.com. In return the table7 discount is added to the bill when presented at the end of the meal.
For further information, please visit www.table7.com.