TABLZ MONETIZES RESTAURANT'S DINING ROOM AS PHYSICAL ASSET DISRUPTING RESTAURANT PROFITABILITY WITH 3D TECH
Restaurants have long had a profitability issue. The pandemic and now record inflation have pushed the industry to the brink, Tablz offers a solution that will bring dining rooms back into the black.
NEW YORK, June 30, 2022 /PRNewswire/ -- Tablz, (www.tablz.com) curates a network of the best tables in the best restaurants across North America. Founded in Ottawa in 2021, by a team of multi-time founders, Tablz is revolutionizing the future of restaurant dining by monetizing the physical real estate in dining rooms. They are excited to announce they completed a $2.5m USD pre-seed financing led by RiverPark Ventures, Another Round VC, In Good Company Hospitality, Branded Strategic Hospitality, and notable founders such as Krystle Mobayeni (Bento Box) & Steve Simoni (BBot/Doordash).
With this investment Tablz plans to augment its leadership team and bring 1000's of new tables into its network.
"After a successful pilot period where we saw 2500+ premium tables organically and voluntarily booked by consumers, we are excited to leave stealth mode and make a lot of noise," said Frazer Nagy, co-founder and CEO of Tablz.
"By the end of 2022, 100 marquee properties will be utilizing Tablz, tens of thousands of bookings, and a waitlist of restaurants waiting to join before Christmas," continues Frazer, "Despite the current stock market turmoil, the fundamentals for growth in the travel and hospitality space remain bullish due to the fact that consumer savings in Millennial and Gen X bank accounts are at an all time high. In Canada alone, that accounts for $300B and $2.7T in the USA. We live in an experience based economy, travel and tourism is the category that is identified by these demographics as a significant portion of their budget, compounded by the pent up demand coming out of COVID."
Tablz is an opt-in upgrade, like first class on an airplane, that allows diners to view a 3D walk-through of a restaurant's dining room and pay to pick the exact table they will sit at. Currently restaurants on the Tablz network are selling tables from $5-$100, with many restaurants having a yearly dining room value of over $100,000, in net-new profit with no cost attached.
Tablz not only enables restaurants to unlock their greatest asset, but it fundamentally changes the relationship between the diner and the restaurant itself. Tablz changes this dynamic as it can personalize every dining experience. Are you on a date, taking your mom out for dinner, fighting to find a group table to watch the big game or need disability access? Tablz can now find you the table based on your individual needs.
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