The Five-Figure Reason Hot Restaurants Are Moving to OpenTable
During one of the busiest times in New Orleans this year — Super Bowl weekend — Lydia Castro realized that a glitch in Resy had made reservations for her Mexican restaurant, Acamaya, appear unavailable to diners. On what should have been a banner night, tables would be empty.
As if on cue, an OpenTable employee walked into the restaurant with a cooler filled with Gatorade and candy, and wished her luck for the weekend ahead. Not long after, the company reached out with an offer: Switch to OpenTable and set a few prime-time reservations aside for select Visa customers. In exchange, the restaurant would receive a generous one-time payment.
Ms. Castro declined to disclose the amount because she hasn't decided whether or not she is taking the deal, but it was enough for her to seriously consider a change. 'How do they have so much money to give out to people?' she said.
The answer: credit card companies. Last year, OpenTable, home to more than 60,000 restaurant clients, signed a partnership with Visa that gives certain cardholders access to coveted reservation slots at popular restaurants. Six years ago, American Express purchased Resy — used by more than 20,000 restaurants — and added Tock to its portfolio last year. Since 2021, American Express has offered premium cardholders access to in-demand reservations on Resy.
As a result, some of the country's best-known chefs have been placed squarely in the center of the credit card wars as restaurants become invaluable cultural currency for financial institutions chasing young, wealthy customers.
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