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American Express Enters The Reservation Game With Resy Acquisition




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The market for online reservation systems may be the most popular new ticket in the city, with the news that American Express is buying in the fiercely competitive field.

On May 15, the company publicly announced that it is acquiring Resy, a reserve management and reservation platform. Followers of the reserve game can remember that Resy bought the reserve competitor in November 2018, increasing its presence against the competition of established players such as OpenTable,& nbsp;

AmEx has a lot on its plate with its new acquisition of Resy. & Nbsp; Photographer: Andrew Harrer / Bloomberg. Photo credit: & copy; 2017 Bloomberg Finance LP

&copy; 2017 Bloomberg Finance LP

According to a launch of AmEx and Resy When announcing the acquisition, Resy has 4,000 restaurants in 154 cities in the United States and has a capacity for more than 2.6 million diners per week. Although the amount of the sale was not 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 was also co-founder of Resy). Leventhal is quoted in the launch of AmEx saying that "American Express is a brand that we have admired and with which we have sought to associate from our beginnings." There are innumerable points of synergy between Resy and American Express that we hope to continue together in the name of the creating an end-to-end global food platform that will excite both diners and restaurants. "According to the statement, after the acquisition, Resy will continue to be managed and operated by the co-founder, CEO Leventhal, along with the co-founder of Resy. and the CTO Michael Montero.

Although Resy and American Express were already partners in some areas, Chris Cracchiolo, senior vice president of global loyalty and benefits for American Express, he told The New York Times That the decision to buy the booking platform makes sense. "American Express wants to be more central in the daily lives of our customers," Cracchiolo told The New York Times.

Credit cards such as AmEx, Visa Infinite and others have already entered the reservation space through their concierge services, especially at higher levels. "AmEx is eager to keep its card members in a market where it now directly competes with the Chase Sapphire Reserve and the Citi Prestige Cards." One way is to strengthen your access to the restaurants where members of your cards They want dinner, "writes Ken Sweet. in an Associated Press story. As luxury diners continue to pursue exclusive foods as eagerly as other consumables such as fashion, it is up to a credit card company to offer this complete lifestyle approach to the discretionary expenses of their customers.

As reservations become a commodity through prepaid ticketing systems at restaurants like Alinea (which Tock uses, founded by Alinea co-owner Nick Kokonas), the very nature of hard-to-get reservations is Changing. Although it could be argued that this system is more democratic (to a certain extent), with the host of the restaurant as guardian removed from the equation, one could also say that these changes, in fact, add more levels of exclusivity to having the level of income for the right. Credit card and higher levels. Who knows what will be the process to acquire a reservation within five or ten years? Until the dust settles, it may be prudent to reserve the trial.

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The market for online reservation systems may be the most popular new ticket in the city, with the news that American Express is buying in the fiercely competitive field.

On May 15, the company publicly announced that it is acquiring Resy, a reserve management and reservation platform. Reserves game followers can remember that Resy bought the competition reserve in November 2018, increasing its presence against the competition of established players such as OpenTable,

AmEx has a lot on its plate with its new acquisition of Resy. Photographer: Andrew Harrer / Bloomberg. Photo credit: © 2017 Bloomberg Finance LP

© 2017 Bloomberg Finance LP

According to a statement from AmEx and Resy announcing the acquisition, Resy has 4,000 restaurants in 154 cities in the United States and has capacity for more than 2.6 million people per week. Although the amount of the sale was not 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). Leventhal is quoted in the launch of AmEx saying that "American Express is a brand that we have admired and with which we have sought to associate from our beginnings." There are innumerable points of synergy between Resy and American Express that we hope to continue together in the name of the creating an end-to-end global food platform that will excite both diners and restaurants. "According to the statement, after the acquisition, Resy will continue to be managed and operated by the co-founder, CEO Leventhal, along with the co-founder of Resy. and the CTO Michael Montero.

Although Resy and American Express were already partners in some areas, Chris Cracchiolo, senior vice president of global loyalty and benefits for American Express, told The New York Times that the decision to buy the booking platform made sense. "American Express wants to be more central in the daily lives of our customers," Cracchiolo told The New York Times.

Credit cards such as AmEx, Visa Infinite and others have already entered the reservation space through their concierge services, especially at higher levels. "AmEx is eager to keep its card members in a market where it now directly competes with the Chase Sapphire Reserve and Citi Prestige Cards, one way is to strengthen their access to the restaurants where card members want dinner, "writes Ken Sweet in an Associated Press story, as luxury diners continue to pursue exclusive foods as eagerly as other consumables such as fashion, it is up to a credit card company to offer this complete lifestyle approach to the discretionary expenses of its clients.

As reservations become a commodity through prepaid ticketing systems at restaurants like Alinea (which Tock uses, founded by Alinea co-owner Nick Kokonas), the very nature of hard-to-get reservations is Changing. Although it could be argued that this system is more democratic (to a certain extent), with the host of the restaurant as guardian removed from the equation, one could also say that these changes, in fact, add more levels of exclusivity to having the level of income for the right. Credit card and higher levels. Who knows what will be the process to acquire a reservation within five or ten years? Until the dust settles, it may be prudent to reserve the trial.


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