There are two cases you see at high end restaurants, either that they have no reservation system at all, or that they keep a card on file and charge you a prese

There are two cases you see at high end restaurants, either that they have no reservation system at all, or that they keep a card on file and charge you a preset cancellation price if you don't cancel more than 24/48/72 hours ahead of time. Taking no reservations maximizes value for the restaurants, assuming it is hot enough to never have an empty table. It doesn't help consumers though. Taking insured reservations causes more work for the restaurant, and generally the cancellation fee is less than the price of a 2 top with food/alcohol, so they are potentially missing out on money, but not much. It helps customers plan in advance though.