May 16, 2019
A scion of an industry that started out in 1950 with the Diners Club charge card has come full circle—linking with a restaurant booking platform to capitalize on the nearly $800 billion in sales that America’s 660,755 restaurants rake in annually, according to Statista.
AmEx comments, “The acquisition will build on the growing suite of digital-first benefits and services from American Express that extend beyond traditional rewards and points, to provide card members with access and experiences across travel and lodging, airport lounges, exclusive events, and dining.”
. Focused primarily in the U.S. but with locations in the UK, Europe, Canada and Australia, Resy currently works with approximately 4,000 restaurants in 154 U.S. cities and ten countries— seating more than 2.6 million diners a week. The acquisition is expected to be completed in summer 2019 and builds on a number of recent acquisitions made by American Express in the dining, travel and lifestyle space that are part of the company’s strategy.
“Resy was created to both connect people who love dining out with new, notable, and hard-to-get-into restaurants across the globe, as well as help restaurants’ businesses grow and thrive. Similarly, American Express has strong relationships with premium dining partners and restaurants across the globe, and provides our card members with access to incredible dining experiences through our exclusive benefits and programs,” said Chris Cracchiolo, SVP, Global Loyalty and Benefits, American Express. “We look forward to working with the Resy team to continue to grow the Resy digital platform, and develop new ways to further connect our Card Members and restaurant partners through unique access and experiences.”
“There are myriad points of synergy between Resy and American Express that we look forward to pursuing together in the name of creating an end-to-end global dining platform that thrills both diners and restaurants alike. As it does today, Resy will continue to focus on delivering world-class hospitality software to our amazing restaurant partners, connecting diners to insider experiences, and reimagining the future of dining,” said Resy’s co-founder and CEO, Ben Leventhal.
In line with this news, American Express is working with recently acquired companies—personal travel assistant app Mezi, UK dining reservation platform Cake Technologies, airport lounge discovery and booking platform LoungeBuddy, and Japanese premium restaurant reservation platform Pocket Concierge—to develop a suite of new digital capabilities that will provide unique digital services, experiences, and access for American Express customers.
After the acquisition, the Resy brand and digital platform will continue to be led and operated by its co-founder and CEO, Ben Leventhal. Resy’s co-founder and CTO, Michael Montero, also remain in place.
Research contact: @AmerianExpress