American Express is Buying Reservation App Resy



The financial services corporation American Express announced today that it will be buying the restaurant reservation booking platform, Resy.

In a move to offer more restaurant perks to its customers, the credit card company has been adding to its portfolio by acquiring different hospitality services.

Some of American Express's latest acquisitions include the travel-assistant app Mezi and LoungeBuddy, an airport-lounge booking service.

“American Express wants to be more central in our customers’ everyday lives,” said Chris Cracchiolo, American Express’s senior vice president for global loyalty and benefits to "New York Times."

Resy, which has emerged as a rival to OpenTable, has 4,000 restaurants on its platform and is used in 10 countries.

Last November, Resy acquired Reserve, another reservation company.

Before that, Resy was on an acquiring spree and bought ClubKviar, a reservation service in Madrid and Barcelona, Spain in April and in 2017, the company also acquired Servy, a market research service.

Resy's revenue has doubled every year for the last four years. According to Foodable Labs data, Resy has the highest Operator Sentiment score out of all the reservation services, meaning operators are much happier with this service versus others.

Now, as part of American Express's portfolio, Resy is expected to grow significantly.

“Putting Resy and American Express together will give Resy valuable scale,” said Ben Leventhal, Resy’s co-founder and chief executive.

Earlier this year, Resy partnered up with the American Express competitor Capital One to release a modern restaurant week and Capital One cardmembers got early access to book reservations during these weeks.

American Express' may now do similar campaigns to promote its dining reward credit cards.

Read more about the impending deal at "The New York Times" now.

Under the American Express' umbrella, Resy is about to become a real threat to OpenTable. Check out the video below to learn more about the restaurant reservations war.

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The company launched in New York City in 2014 and is co-founded by innovators and entrepreneurs Ben Leventhal, Michael Montero, and Gary Vaynerchuk. Resy features complete restaurant reservations and waitlist system, table management, ticketing, web and app booking, CRM, and POS.

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“Employees first, customers second, community third, suppliers fourth, then investors fifth,” said Meyer today in a “CNBC” Squawk Box interview, as he defined the concept of— enlightened hospitality.

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Airbnb Partners With Restaurant Reservation Company to Challenge Open Table

Another innovator in the food space, believe it or not, is now— Airbnb.

Last year, Foodable reported on how the company that revolutionized the hospitality industry announced to expand its scope with their ‘Experiences’ feature by allowing guests to “book tours, dance scenes, and outdoor activities.”

Airbnb revealed last year its partnership with reservation startup Resy to figure out a way to facilitate restaurant guest bookings for their traveling customers during their trips.

Well, it's now official, their idea came to fruition earlier this month when the $31 billion travel planning company announced it will now offer restaurant reservations from within its app to help travelers find the best restaurants in the cities they are visiting.

"This is a major traveler pain point,” said Joe Zadeh, Airbnb’s director of Trips to Forbes. “Most people know the restaurants in their own city, but when they travel throughout the world they don’t know what are the best restaurants to eat at."

Offering a curated restaurant list is the main differentiator between Airbnb and Resy’s service in comparison to OpenTable and other restaurant reservation apps.

"I’ve never thought that the answer in terms of discovering cities and discovering restaurants is to put all of the restaurants in one place. The answer is to put the best restaurants in one place," said Ben Leventhal, CEO of Resy to Forbes. "If you look at the Resy app, you’re never going to see more than a fraction of a couple hundred restaurants versus an OpenTable or a Yelp where you’ll see thousands and thousands."

Currently, this new restaurant booking feature will only be available for customers traveling in the US.

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