Print Article: Savored

Savored


Executive summary
Savored, a free yield management service for high-end restaurants, has disrupted the deal space in the restaurant industry by providing a cost-effective demand management solution to the tight-margins restaurant industry. Restaurant partners use Savored to drive incremental revenue by filling their excess off-peak capacity. Savored's 650 plus partner restaurants nationwide offer a specific number of tables to Savored members only during the time periods when they are most likely to have remnant inventory. By filling only excess capacity, the sole expense to restaurants for each Savored table is simply the variable cost of food and beverage (typically about 30 percent).

Savored members are incentivized to dine during off-peak hours to ensure that fewer turns go unfilled at each partner restaurant; this incentive is accomplished through a 30 percent discount on all food and alcohol. Members pay $10 per reservation to access these 30 percent savings and use Savored to discover new and extraordinary dining experiences. Savored members are highly educated and highly affluent (42 percent hold graduate degrees and 24 percent of them earn over $200K per year) and love dining out (62 percent of our members dine out 6+ times per month), making them qualified and ideal customers for partner restaurants.

Savored works with hundreds of highly-rated restaurants (including several Michelin Star winners) in 10 major metropolitan markets and has exclusive distribution partnerships with Zagat and OpenTable in each of those markets.

You can read more about Savored by downloading our sales collateral here.

Company description
Savored (formerly VillageVines) is a members-only online service that offers insider pricing of 30 percent off all food and drink at leading restaurants across the United States. Over 650 top restaurants nationwide use Savored to increase profitability by filling otherwise empty tables with quality diners by offering Savored members a 30 percent off discount incentive (applies to the entire bill -- both food and alcohol).

Consumers use Savored to access a curated selection of restaurants, to book their reservations online and to enjoy 30 percent discounts discreetly applied to their final bill (no coupons or vouchers). Savored members pay $10 for each reservation they make and that booking fee "unlocks" the 30 percent discount for use.

Headquartered in New York, the company was founded in 2010 and is backed by Hearst Interactive Media and GrandBanks Capital. The company is an exclusive partner of both Zagat and OpenTable and is now live in Atlanta, Boston, Chicago, Denver, Los Angeles, Miami, New York, Philadelphia, San Francisco, and Washington, DC, and will be expanding to many additional cities in the coming year.