American Express Acquires Tock to Enhance Dining Experience for Cardholders

In a significant move for dining enthusiasts, American Express has announced its acquisition of Tock, a reservation and event management technology provider. This strategic purchase aims to expand the number of restaurants available through American Express channels, addressing the challenges cardholders face in securing reservations at popular dining spots. With Tock, American Express will add approximately 7,000 restaurants, wineries, and other venues to its offerings, complementing its previous acquisition of Resy in 2019. The integration of Tock's reservation and table management tools is expected to enhance the dining experience for American Express cardholders, particularly those holding premium cards. The Global Dining Access program by Resy already provides select card members with exclusive reservation opportunities and notifications for table openings, giving them an edge in the competitive dining landscape. This initiative is designed to connect premium customers with some of the most sought-after restaurants globally. Max Chodorow, co-owner of Jean's in New York City, highlighted the growing demand for exclusive reservations, noting that they have become a form of "social capital." He expressed optimism about the acquisition, suggesting it could benefit restaurants by attracting high-spending customers. However, he also cautioned that the push for exclusivity could create a perception of elitism, potentially alienating other diners. Overall, American Express' acquisition of Tock is poised to reshape the dining reservation landscape, offering cardholders enhanced access while simultaneously raising questions about the implications of exclusivity in the restaurant industry.