National Restaurant Association Not Looking To Encroach On OpenTable's (OPEN) Turf
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Shares of OpenTable, Inc. (Nasdaq: OPEN) fell as much as 7 percent today on speculation the National Restaurant Association would open its own free restaurant reservations system for its member restaurants.
StreetInsider.com has contacted the National Restaurant Association and they said while they are evaluating the needs of their members in this space, they are "not currently exploring the development of a proprietary online reservation system."
Below is the statement to StreetInsider.com from the National Restaurant Association:
"Per your inquiry, we are always looking for opportunities to better serve our members and help them streamline their operations, reduce costs and increase customer satisfaction. The National Restaurant Association is not currently exploring the development of a proprietary online reservation system, but is evaluating the needs of our members in this space, including all options currently on the market. "
Shares of OpenTable closed down 4.2% today on the speculation.
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StreetInsider.com has contacted the National Restaurant Association and they said while they are evaluating the needs of their members in this space, they are "not currently exploring the development of a proprietary online reservation system."
Below is the statement to StreetInsider.com from the National Restaurant Association:
"Per your inquiry, we are always looking for opportunities to better serve our members and help them streamline their operations, reduce costs and increase customer satisfaction. The National Restaurant Association is not currently exploring the development of a proprietary online reservation system, but is evaluating the needs of our members in this space, including all options currently on the market. "
Shares of OpenTable closed down 4.2% today on the speculation.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
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