Today, American Express has announced that it has entered into an agreement to purchase Resy a digital restaurant reservation and management platform.
Amex's acquisition of Resy
American Express says their acquisition of Resy is based on their growing range of digital services that extend beyond traditional rewards and points, to give cardmembers access to several types of things.
For those who are not familiar with Resy, they are a competitor of OpenTable. So if a restaurant cannot be booked at OpenTable, it may well be booked with Resy. Resy works with 4,000 restaurants in 154 US cities and 10 countries, placing more than 2.6 million dinners a week.
Amex expects this acquisition to be completed in the summer of 201
The American Express & # 39; SVP of Global Loyalty and the benefits had the following to say about this acquisition:
"Resy was created to connect people who love Eating out with new, remarkable and hard-to-reach restaurants all over the world, as well as helping restaurants grow and thrive, in the same way American Express has strong relationships with premium dining partners and restaurants worldwide, and gives our card members access to incredible dining experiences through our exclusive benefits and programs, and we look forward to working with the Resy team to continue to grow Resy digital platforms and develop new ways to redirect our card members and restaurant partners through unique access and experience. "
At the same time, Resy's CEO had the following to say about the Agreement:
"American Express is a brand we have changed and sought to cooperate with from the start. There are countless synergies between Resy and American Express that we look forward to pursuing together in the name of creating a global serving platform that eats both dining and dining. As it does today, Resy will continue to focus on delivering world-class hospitality software to our wonderful restaurant partners, linking diners with inside experiences and reimagining the future of dining. "
Amex says that after the acquisition is completed, Resy will maintain much of the same management, and their current ordering and administration services will still be offered.
I take Amex's acquisition of Resy
Over the last few years We've seen credit card issuers get into a war of differing rewards points, we see bigger and bigger bonuses, and at a certain level it just won't be sustainable to offer even more points.
So card issuers are increasingly seeking For other ways to distinguish, this may include access to experiences and other benefits.
While a credit card company that takes over a medium order platform may seem strange, I can see the logic of this. Amex will be able to work with Resy to offer card members access to exclusive tables, and will also be able to integrate the booking platform into their app, website etc.
At the beginning of 2019, Capital One and Resy launched a partnership p, which should give you a sense of what a credit card company can try to achieve here. With this partnership, Capital One card members had early access to menu-week restaurants in different cities, and card members also had access to additional peak-time reservations.
I find it safe to say that the partnership will close soon.
What do you do about Amex's acquisition of Resy?