The holiday season is when your restaurant is at its busiest and full of opportunity. That’s also when no-shows and last-minute cancellations can hurt the most. Every table counts, and payment strategies like deposits, prepaid experiences, and card holds help safeguard bookings and bring revenue in early, so you’re covered before guests even walk through the door.

Here’s what you need to know about implementing these strategies—and how the OpenTable platform features can help protect your revenue during the busiest time of year by reducing no-shows and cancellations.

1. Implement credit card holds

If you’re new to booking policies, credit card holds are your first line of defense. OpenTable’s credit card hold feature doesn’t charge a guest’s credit card at booking. Instead, it securely collects credit card information and places a pending hold. If someone doesn’t show up or cancels too late, you can charge the card a fee. It’s a simple way to get guests invested in their reservations without asking for money upfront.

The numbers speak for themselves: guests who book on OpenTable with a credit card hold are up to 16% less likely to no-show and 15% less likely to cancel late compared to guests who book at restaurants without any booking policy. You also set clear expectations right in the booking flow, so guests understand the rules before confirming.

Credit card holds work particularly well during busy periods when you can balance no-shows with walk-ins. They give guests flexibility, while providing you with peace of mind—and the ability to recover some revenue when plans fall through.

2. Require deposits

Credit card holds offer some protection, but deposits take it to the next level. Instead of placing a temporary hold, deposits secure revenue for your restaurant the moment guests book. That means stronger cash flow for payroll, inventory, and other expenses, which is especially critical during the capital-intensive holiday season.

The impact is clear: OpenTable deposits cut no-show rates by 57% on average and make guests 72% less likely to cancel on you at the last minute. When someone has already paid part of their bill, they’re significantly more committed to showing up.

Another advantage of deposits is fewer headaches. With holds, no-show fees can lead to customer complaints, chargebacks, and failed transactions. Deposits are part of the upfront transaction, so you reduce the risk of declined cards or lengthy back-and-forth with guests. With a deposit, you already have the money.

Making deposits work for your restaurant is simple:

• Require deposits based on party size, specific dates, or high-demand time slots
• Automate cancellations for reservations without a deposit
• Keep deposits instead of chasing no-show or late-cancellation fees

3. Lock in revenue up front with prepaid Experiences

The holiday season is packed with special occasions—and each one is a chance to boost revenue with prepaid Experiences. Unlike regular reservations, prepaid Experiences on OpenTable let you collect the full payment before guests arrive. Think New Year’s Eve tasting menus, festive prix fixe dinners, or festive cooking classes.

The payoff? Restaurants using OpenTable prepaid Experiences average 30% higher per-person spend compared to non-prepaid options. Additionally, up to 30% of prepaid seated reservations include add-ons, like a wine pairing or truffle supplement.

Beyond maximizing revenue, prepaid Experiences add a layer of predictability for your business. Guests who book prepaid experiences are 44% less likely to no-show and 67% less likely to cancel late compared to those booking non-prepaid Experiences. When someone has paid upfront for a special dinner or event, they’re not just reserving a spot—they’re committed.

Get inspired with these unique holiday experience ideas.

Getting started with payment tools is simpler than you think

Many restaurants assume integrating payments into their reservation system will be complicated or time-consuming, but it’s actually quick to set up. Once your payments are connected, funds typically arrive within a few business days and give you reliable cash flow when you need it most.

Here are a few tips to get started:

• Integrate your payments system with OpenTable so everything flows through one place
• Test deposits or prepaid Experiences on specific dates or party sizes before rolling them out widely
• Keep policies clear and transparent in the booking flow so guests know exactly what to expect

By starting small, you’ll see the benefits without having to overhaul your entire reservations process.

Make the holidays work for you

The holiday season creates natural opportunities to put deposits and prepaid experiences to work. Guests expect higher prices and stricter policies during peak times, making it the perfect window to introduce these tools.

But it’s not just December that counts. These tools work year-round and can help you maximize demand on other big days too:

• Valentine’s Day wine pairings with revenue upfront
• Mother’s Day brunch with deposits to secure prime time slots

Timing your rollout

Don’t wait until staff schedules are set, special menus are finalized, and there’s little appetite for operational changes to try out these payment features.

By starting now, you can test these features on smaller events first. Use a November wine dinner to try prepaid experiences before rolling them out for New Year’s Eve. Implement deposits for weekend reservations before applying them to your most valuable holiday slots.

Your guests are already accustomed to paying upfront for concerts, shows, and other experiences during the holidays. Restaurants are simply catching up to what other industries learned long ago: revenue upfront beats hoping people show up.

Make sure payments work for you during the holidays

The holiday season rewards restaurants that plan ahead. Payment features like deposits and prepaid Experiences protect your revenue when it matters most—but only if you implement them before the chaos starts. With many restaurants already securing their bookings, now’s the time to set yourself up for fully booked, more profitable nights.

Source: OpenTable

Editor’s Note: This article is for informational purposes only, and no endorsement of any vendor(s) should be inferred.