New Delhi-headquartered online restaurant reservation service and deals site TableGrabber has launched a new pricing and reservation strategy platform for restaurants called RezGuru, reports TechCrunch. It essentially will provide restaurants the ability to adjust pricing and reservation availability in order to maximize revenues.
RezGuru also offers restaurants a waitlist management feature that uses IVR and SMS, and a Global Distribution System, including open APIs. The report claims that the RezGuru dashboard will highlight aspects like restaurant revenue and average revenue for each available seat broken down to hours. Based on the restaurant’s requirements RezGuru will suggest pricing strategies for particular periods in a day.
TableGrabber and RezGuru co-founder Sonia Marwaha told the publication that RezGuru suggestions are based on 21 different data points, including data from the restaurant’s point-of-sale system, upcoming events and even weather.
TableGrabber was founded by Sonia and her brother Pawan Marwaha. It launched in July 2012 starting with the Delhi-NCR region, and later expanded to Mumbai and Bangalore. In July 2013, TableGrabber expanded its operations to Sao Paulo and Rio de Janeiro in Brazil and Santiago in Chile.
The startup was part of the Chile government-run accelerator Startup Chile’s 7th batch in 2013 and received $40,000 equity free seed capital as part of the program. It was also part of the 2nd batch of Microsoft’s accelerator program.
Other services and business model: The service also offers an Electronic Reservation Diary (ERD) solution for restaurants allowing them to receive bookings through the website, phone or walk-ins. Every time a table reservation is made the ERD syncs with the TableGrabber website, which ensures that the restaurant’s seat availability information remains up to date. TableGrabber charges restaurants for the ERD solutions and also takes a commission from restaurants for every reservation made using its platform.
There dosen’t seem to be any other players in the restaurant pricing strategy space. In any case, RezGuru is currently solely focused on the US market and it isn’t clear when it’ll be available in the Indian market. On the other hand TableGrabber has a few competitors in the Indian market, including Times Internet’s restaurant listing service Timescity, which recently introduced a table reservation via Twitter feature. Earlier this year, Timescity had also acquired restaurant table booking service DineOut. Another player in this space, Tablewalla.com’s domain name seems to be up for sale at the moment. It had launched in 2012.