Services Stock News Update: Priceline Group Inc (NASDAQ:PCLN)
On Tuesday, Shares of Priceline Group Inc (NASDAQ:PCLN), lost -0.41% to $1,765.44. Trading volume recorded for this company was about 240,080 shares as contrast to its average volume of 405,280 shares. The share price surged almost 7.07% in the last one month. The stock’s intraday range was $1,762.57 to $1,776.69.
OpenTable, the world’s leading provider of online restaurant reservations and part of The Priceline Group (NASDAQ: PCLN), today disclosed a “book responsibly” campaign highlighting the impact of no-shows and late cancellations on the restaurant industry. OpenTable partnered with celebrity chef and restaurateur Michael Voltaggio to release a public service declaration to advocate for diners to book responsibly by canceling or modifying their reservation when their plans change.
“Many people merely don’t appreciate the impact that no-shows and late cancellations have on the restaurant industry,” said Scott Jampol, Senior Vice President of Marketing at OpenTable. “At OpenTable, we believe we have a responsibility to assist build awareness of the issue and continue to leverage our technology and diner network in ways that cut no-show rates and diminish the impact of late cancellations.”
“It might seem safe to bail on a reservation but if you can’t make it, letting us know ahead of time makes a world of difference,” said Michael Voltaggio. “If we’re continuously working to address no-shows on a daily basis, our business suffers. That’s why we are asking diners to book responsibly.”
Voltaggio isn’t alone. Kim Alter from San Francisco-based Nightbird notes that she wishes “diners knew how hard it is to run a restaurant” and that canceling at the last minute or no-showing “makes it even harder.” And Michael Davis from Sprout LA counsels diners to “not be afraid to cancel your reservation – we value a cancellation more than a no-show.”
OpenTable’s no-show rate in the U.S. is about 20 percent lower than the no-show rate for diners who book via phone. OpenTable considers that this lower rate is assisted by making it easy to change or cancel a reservation with a couple taps of their phone and by its email and mobile notification reservation reminders. To assist refill tables freed up because of late cancellations on restaurants, OpenTable right away surfaces the newly available tables to its millions strong diner network.