American Express enters the game of reservations with the acquisition of Resy

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The market for online reservation systems is perhaps the most popular new ticket in the city, with the news that American Express is entering the extremely competitive field.

On May 15, the company publicly announced the acquisition of Resy, a booking and booking management platform. Fans of the game of reservations can remember that Resy Purchased Competitor Reserve in November 2018, strengthening its presence against the competition of established players such as OpenTable,& nbsp;

According to one exit of AmEx and Resy Announcing the acquisition, Resy has 4,000 restaurants in 154 US cities and serves more than 2.6 million people a week. Although the amount of the sale has not been disclosed by AmEx, Resy is valued at $ 53 million and includes investors such as AirBnB and Union Square Hospitality Group. according to eater (One of the co-founders of Eater is Ben Leventhal – who also co-founded Resy). According to the AmEx press release, Leventhal reportedly said, "American Express is a brand we admire and have been looking to team up since our early days. There are many points of synergy between Resy and American Express that we hope to pursue together to create a comprehensive end-to-end catering platform that will delight restaurants and dinners. According to the release, Resy will continue to be run and operated by co-founder, CEO, Leventhal, alongside Resy, co-founder and CTO, Michael Montero.

Although Resy and American Express are already partners in some areas, Chris Cracchiolo, Executive Vice President of American Express for Global Loyalty and Benefits, says the New York Times that the decision to buy the reservation platform makes sense. "American Express wants to occupy a more central place in the daily lives of our customers," Cracchiolo told The New York Times.

Credit cards such as AmEx, Visa Infinite and others have already been transferred to the booking space through their concierge services, especially on higher floors. "AmEx is eager to retain its members in a market where it is now competing directly with Chase's Sapphire Reserve and Citi Prestige cards. One of the solutions is to increase access to restaurants where map members want to dine, "writes Ken Sweet. in an Associated Press article. While luxury customers continue to search for exclusive meals as eagerly as other consumable products such as fashion, it is incumbent on a credit card company to offer all of this style-driven approach. the discretionary spending of their clients.

As bookings become commodities themselves through prepaid ticketing systems in restaurants such as Alinea (which uses Tock, founded by Nick Kokonas, co-owner of Alinea), the very nature of the hard-to-get bookings is in the process of switch. Although it can be argued that this system is more democratic (to some extent), with the restaurant host acting as a guardian, one could also say that these changes actually add more levels of exclusivity to allowing to have the corresponding level of income. credit card and higher levels. Who knows what will be the process to acquire a reservation in five or ten years? Until the dust settles, it may be wise to reserve your judgment.

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The market for online reservation systems is perhaps the most popular new ticket in the city, with the news that American Express is entering the extremely competitive field.

On May 15, the company publicly announced the acquisition of Resy, a booking and booking management platform. Fans of the booking game may remember that Resy bought its competitor Reserve in November 2018, reinforcing its presence against the competition of established players such as OpenTable.

AmEx has some work to do with its latest acquisition of Resy. Photographer: Andrew Harrer / Bloomberg. Photo credit: © 2017 Bloomberg Finance LP

© 2017 Bloomberg Finance LP

According to a statement issued by AmEx and Resy announcing the acquisition, Resy has 4,000 restaurants in 154 cities in the United States and hosts more than 2.6 million people a week. Although the amount of the sale has not been revealed by AmEx, Resy is valued at $ 53 million and includes investors such as AirBnB and Union Square Hospitality Group according to Eater (one of the co-founders of Eater is Ben Leventhal – who also co-founded Resy). . According to the AmEx press release, Leventhal reportedly said, "American Express is a brand we admire and have been looking to team up since our early days. There are many points of synergy between Resy and American Express that we hope to pursue together to create a comprehensive end-to-end catering platform that will delight restaurants and dinners. According to the release, Resy will continue to be run and operated by co-founder, CEO, Leventhal, alongside Resy, co-founder and CTO, Michael Montero.

Although Resy and American Express are already partners in certain areas, Chris Cracchiolo, Executive Vice President of American Express for Loyalty and Benefits, told the New York Times that the decision to buy the reservation platform was logical. "American Express wants to occupy a more central place in the daily lives of our customers," Cracchiolo told The New York Times.

Credit cards such as AmEx, Visa Infinite and others have already been transferred to the booking space through their concierge services, especially on higher floors. "AmEx is eager to retain its members in a market where it is now competing directly with Chase's Sapphire Reserve and Citi Prestige cards. One of the solutions is to increase access to restaurants where members of their map want to dine, "writes Ken Sweet in an Associated Press article. While luxury customers continue to search for exclusive meals as eagerly as other consumable products such as fashion, it is incumbent on a credit card company to offer all of this style-driven approach. the discretionary spending of their clients.

As bookings become commodities themselves through prepaid ticketing systems in restaurants such as Alinea (which uses Tock, founded by Nick Kokonas, co-owner of Alinea), the very nature of the hard-to-get bookings is in the process of switch. Although it can be argued that this system is more democratic (to some extent), with the restaurant host acting as a guardian, one could also say that these changes actually add more levels of exclusivity to allowing to have the corresponding level of income. credit card and higher levels. Who knows what will be the process to acquire a reservation in five or ten years? Until the dust settles, it may be wise to reserve your judgment.