American Express has announced its plan to acquire Resy, a New York-based CRM and reservation platform.
The financial service company’s move is the latest in the industry to expand beyond its traditional points loyalty program by providing its customers with value-added access, experiences, and services.
The deal is seen to close over summer. It follows similar transactions by Amex such as its acquisition of LoungeBuddy, an airport lounge booking service, and Mezi, a travel assistance app.
With the planned Resy acquisition, Amex will provide its cardholders with more access to dining experiences through its exclusive benefits and programs, according to Chris Cracchiolo, senior vice president for Global Loyalty and Benefits at American Express.
He added that the takeover of Resy would help continue the growth of the Resy digital platform. The deal will also pave the way to develop new ways to enhance the connection of its Card Members and restaurant partners through exclusive access and experiences.
Resy kicked off in 2014 as a platform allowing users to book restaurants in situations where they usually need to reserve months in advance. The website also will enable restaurants to offload unused inventory.
About a year ago, the company launched a new suite of tools for its restaurant partners, which include Resy Fly, Resy Surveys, and Business Intelligence.
Earlier, Resy has raised $45 million from investors such as Airbnb, Vayner RSE, and Lerer Hippeau Ventures. When the deal takes place, Resy says its full-time and part-time employees, including Michael Montero, co-founder and CTO, and Ben Leventhal co-founder and CEO, will move over to Amex. The company also says its Resy brand name still be used.
Resy now has around 4,000 restaurants its listings. It also works with about 10,000 eateries across the globe through partnerships with other platforms. Its partner restaurants are mainly based in the US, but it also works with Canadian, European, British, and Australian diners.