The online reservation systems market may be the new hottest ticket in town, with the news that American Express is buying into the fiercely competitive field.

On May 15, the company announced publicly that it is acquiring Resy, a reservation booking and management platform. Followers of the reservations game may recall that Resy bought competitor Reserve in November 2018, ramping up its presence in the face of competition from established players such as OpenTable,

According to a release from AmEx and Resy announcing the acquisition, Resy has 4,000 restaurants in 154 cities across the United States, and seats more than 2.6 million diners weekly. Although the amount of the sale was undisclosed by AmEx, Resy is valued at $53 million USD and includes investors such as AirBnB and Union Square Hospitality Group according to Eater (one of Eater’s co-founders is Ben Leventhal — who also co-founded Resy). Leventhal is quoted on the release from AmEx as saying “American Express is a brand that we have admired and sought to partner with from our inception. 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.” According to the release, after the acquisition, Resy will continue to be led and operated by co-founder CEO Leventhal, along with Resy co-founder and CTO Michael Montero.

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