Restaurant Industry Transformed by OpenTable and Yelp

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5StarControl shines a light on recent analysis by financial website Insider Monkey that online review site Yelp and review and reservation site OpenTable are changing the way restaurants do business.

5StarControl has issued an announcement about a new report from Insider Monkey which touts OpenTable and Yelp as top investments and game changers in the restaurant industry.

Local Review Site 5StarControl wrote that consumers will be entranced by the way Yelp and OpenTable are helping people choose restaurants, and that the two companies are predicted to be market leaders, as well as good investments, according to the Insider Monkey article.

Insider Monkey is a financial website dedicated to giving the ordinary person the information that only market insiders have previously had access to. Through their website insidermonkey.com, a team of writers tracks hedge funds and insider trading in an attempt to glean the secrets of the market that are normally off-limits to the average investor. They also analyze market trends and provide expert tips and advice on which stocks investors should be looking at.

The success of online review site Yelp has been well-documented. Since its beginnings in 2004, Yelp has grown to be one the largest and most-trusted local business review sites on the internet. Claiming more than 70 million monthly visitors, as well as tens of millions of reviews, Yelp is changing the way that people choose which restaurants to visit. Unlike similar sites such as Groupon, Yelp’s share price has risen since its March 2012 IPO, and Investor Monkey feels that Yelp will be the market leader and yield good long-term profits.

OpenTable provides reservation services for restaurants, as well as restaurant reviews. With more than 15 million reviews and 25,000 listed restaurants, OpenTable is becoming a big player in the local restaurant industry. Users can read reviews and make reservations for free at their chosen restaurants in real-time from their computers or mobile devices. Restaurants pay a monthly and per reservation fee to the use the OpenTable services, but consider the service as another method of local business online marketing. With no other companies offering reviews and reservations together, Insider Monkey thinks that OpenTable can grow, and that the stock is currently undervalued.

The bullish financial analysis of Yelp and OpenTable by Insider Monkey shows that consumers are continuing to turn online to find local restaurants that they want to go to. Online reviews are powerful resources for consumers, and the idea that these two companies allow customers to make faster, more informed choices is part of the evolution of the restaurant industry. With OpenTable and Yelp as the two leaders in this field, they are smart picks for continued, long-term growth.

5StarControl is a website covering local business news regarding online review sites.

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