TECHNOLOGY

Amex expands digital services with booking platform

BY Dan Berthiaume

American Express is looking to move beyond traditional offerings for its credit card holders.

The financial services giant is acquiring Resy, a digital restaurant reservation booking and management platform. The acquisition is designed to help American Express provide cardholders with digital access and experiences across travel and lodging, airport lounges, events, and dining.

Founded in 2014, Resy offers a table management, CRM and booking technology suite for restaurants, with a consumer-facing restaurant reservation app and website. Resy currently works with approximately 4,000 restaurants in 154 U.S. cities and 10 countries, serving more than 2.6 million customers 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. The company says it is enacting a broader strategy to become an “essential part” of consumers’ and retailers’ “digital lives.”

As part of that strategy, American Express is also working with several other recently acquired companies—personal travel assistant app Mezi, U.K. 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 capabilities that will provide digital services, experiences, and access for American Express customers.

“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,” said Chris Cracchiolo, senior VP, 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,” said Resy’s co-founder and CEO, Ben Leventhal. “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.”

After the acquisition, Resy will continue to be led and operated by Leventhal. Resy’s co-founder and CTO, Michael Montero, will also remain in place. Additionally, existing Resy reservation booking and management services and capabilities will continue to be offered. Terms of the deal were not disclosed.

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