American Express takes further control of restaurant reservations

Today’s Doughie: American Express Makes Dining Easier for Elite

Imagine this: you’re craving a table at one of those buzzy restaurants that everyone talks about, but the thought of navigating endless reservation bots and third-party resellers makes your stomach churn. Well, American Express has just made life a whole lot simpler for its cardholders by snapping up Tock, a major player in reservation and event management. This move is set to expand their dining options from around 1,000 to nearly 7,000 locations, including not just restaurants but also wineries and other bookable venues.

American Express has been beefing up its dining perks since 2019, when it first acquired Resy, another reservation platform. The company’s latest acquisition means that holders of elite cards like the Platinum or Centurion Cards will have access to an even wider range of exclusive dining experiences. Last year alone, American Express cardholders spent a whopping $100 billion on dining, proving that for many, eating out is not just a meal but a lifestyle.

Howard Grosfield, the president of American Express U.S. Consumer Services, is excited about the added value this brings to cardholders. By integrating Tock’s technology, American Express aims to connect its users with some of the most sought-after dining spots, making what was once a challenging task much more accessible. This strategic move aligns with the company’s broader goal of offering unparalleled dining benefits and exclusive experiences.

In a city like New York, where dining reservations are seen as a symbol of social status, American Express’s acquisition could make these coveted spots even more exclusive. According to Max Chodorow, a restaurant owner, while this could enhance the dining experience for cardholders, it may also intensify the sense of exclusivity around these high-demand locations………[read more]

Rising Dough

How does American Express’s strategy of acquiring reservation platforms like Tock and Resy reflect broader trends in how businesses use technology to enhance customer experiences and drive growth?