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.

Reservation App Resy Partners with Capital One to Roll Out Modern Restaurant Week

Resy, a reservation app that has emerged as a rival to OpenTable, is partnering up with the Credit Company Capital One to release a modern restaurant week that incorporates the Resy platform.

Starting in Los Angeles from Feb. 25 through March 3, Resy will be offering reservations at 10 to 15 restaurants that will be serving lucky diners a special menu specifically for this week. This menu will feature new dishes prepared by the restaurant's chef and dishes already on the menu.

This week is catering to those foodies who want a unique culinary experience with more of a chef connection.

“We wanted people to experience what it feels like to be an insider and a regular at these restaurants,” said Victoria Vaynberg, Resy's CMO. “It’s about bringing this closer connection between the restaurants and the diners. The idea is to capture this research, development and testing phase—having these off-menu items that you can access for one week only.”

The Off Menu Week will also be making its debut in New York City, Chicago, San Francisco, Washington, D.C., and Austin.

All of these cities are full of foodies willing to invest to get a next level dining experience.

“People are willing to pay and spend their disposable income on an experience, but those experiences have to be worthwhile,” said Vaynberg. “They really have to be a value add, and have to feel special. You don’t want to leave something feeling otherwise.”

Capital One, which launched its restaurant-focused points card Savor at the end of 2017, is partnering with Resy strategically.

Capital One cardmembers will be getting early access to book reservations during these Off Menu Weeks.

Learn more about the new restaurant week at "Ad Week" now.

We recently spoke with Stephanie Cohen, head of sales for Resy to see how the CRM platform sets itself apart from others on the market from an operator standpoint. Check out the video below to learn more how Resy is helping to streamline restaurant operations.