American Express today announced it intends to acquire Resy, a leading digital restaurant reservation booking and management platform.
Launched in 2014, Resy, which previously raised a total of $45 million in funding, offers a table management, CRM and booking technology suite for restaurants. The consumer-facing restaurant reservation app and website helps enhance the guest dining experience while enabling restaurants to offload excess inventory. Resy currently works with approximately 4,000 restaurants in 154 U.S. cities and 10 countries, seating more than 2.6 million diners a week.
The acquisition, which is expected to be completed this summer, builds on a number of recent acquisitions made by American Express in the hospitality technology space. Recently acquired companies include personal travel assistant app Mezi, airport lounge discovery and booking platform LoungeBuddy, and Japanese premium restaurant reservation platform Pocket Concierge. Last year, the company acquired UK dining reservation platform Cake Technologies for a reported $13.3 million.
Resy, which last November acquired Reserve, its main competitor, has established relationships across the restaurant industry. Its stated mission is to power the world’s best restaurants using technology to envision the future of hospitality.
Focused primarily in the U.S. but with locations in the UK, Europe, Canada and Australia, Resy offers restaurants sophisticated reservation management solutions at affordable pricing that are designed to help restaurants optimize tables and increase revenue. At the same time, it provides consumers with a seamless restaurant booking experience.
Last year, the solution provider launched a new suite of tools for restaurant operators, with components that include Resy Business Intelligence, Resy Surveys, and Resy Fly, which allows restaurants to better manage their inventory. It does this by analyzing such factors as date, time, weather and the average time guests spend dining at a restaurant. With Business Intelligence, restaurant operators can analyze revenue and ratings from sources like Foursquare. Resy Surveys, in a similar vein, gives restaurants an easy tool to send out surveys to existing customers to learn more about what they want.
Terms of the Resy acquisition, which is likely to be the largest restaurant solution acquisition to date by the multinational financial services corporation, were not disclosed. Nor is it known whether this purchase will be charged.