Groupon announced on Monday a new service called Groupon Reserve, which fuses the company's discount offerings with an OpenTable-style reservation system. The service is already live in 10 markets that include New York and Los Angeles and the company says it will hit more cities stateside, as well as international locations by the end of 2013.

Groupon Reserve is not entirely homemade. Its backend leverages the reservation system from Savored.com, which Groupon says allows customers to get tables at up to a 40 percent discount.

"Reserve provides these businesses with a yield management solution to bring customers through their doors at the times they need them the most," said Groupon CEO Eric Lefkofsky, in a press statement. "Groupon Reserve is an important step in our journey to become the leading marketplace for online deals, where consumers can come to Groupon and discover great businesses at unbeatable prices. As Groupon has evolved, we've seen growing demand from our customers for upscale offers and exclusive experiences. Reserve gives the most prestigious brands a new way to reach our large and desirable audience."

Groupon Reserve and OpenTable differentiate in one key regard: the discounts. Whereas OpenTable simply offers a listing of restaurants with open tables based on the user's proximity, Groupon Reserve provides that, as well as discounted rates on food and services.

Aside from providing added convenience for customers, Groupon believes the new service will also be a boon for restaurants.

"Whether it's because of a slow night or a last minute no-show, even the best restaurants have empty tables," Lefkofsky said. "Reserve provides these businesses with a yield management solution to bring customers through their doors at the times they need them the most."

In addition to restaurant reservations, Groupon says that in the future, Reserve will also offer deals from top beauty, product, travel and entertainment brands, as well as hotel, salon and spa reservations.