Resy launched in the summer of 2014 with a simple premise: If you want a premium reservation at a restaurant on short notice, you should be able to pay for it.
Four years and 160 markets later, Resy has changed a lot since then.But today, the company is about to change things up even more.This morning, Resy has announced a brand new suite of tools for restaurants, including a new inventory management system called ResyFly.As it stands now, restaurants have two options when it comes to inventory management for their reservations.
They can choose a slot system, where diners are seated at 6pm, 8pm and 10pm, or they can opt for a flex system, where they take reservations as theyre called in and build the nights reservations based off what comes in first.Unfortunately, most restaurants have to choose between these two systems, as there are no inventory management systems that offer the ability to do both, according to Resy.ResyFly uses Resys troves of data to determine the best way for restaurants to eliminate gaps in their inventory throughout a given night, taking into account things like date, time, weather and even the average time spent eating at a given restaurant.
The tool gives restaurants the ability to schedule different floor plans, reservation grids and hours of operation for special days like Valentines Day.Alongside ResyFly, the company is also introducing Business Intelligence, a window into important information like KPIs, revenue and ratings with third-party information from platforms like Foursquare layered in and integrated with POS software providers to offer real-time revenue reporting.But sometimes you want direct feedback from the customer.
To that end, Resy is launching Resy Surveys, which gives a restaurant the opportunity to send a custom survey to customers about their experience.
Resy is also integrating with Upserve, giving Resys restaurant partners insights into their guests preferences and favorite dishes, as well as info on dining companions, frequency of bookings and historical spend.And while Resy is focused on refining the product, the company is also focused on growth.
Thats why Resy has announced the launch of Resy Global Service, which lets Resy distribute inventory to partners like Airbnb.
(Its worth noting that Airbnb led Resys $13 million funding round in 2017.)Finally, Resy is working on a new membership loyalty program called Resy Select, which will launch at the end of the month.
Resy Select is an invite-only program that gives restaurants insights into Resys hungriest users, and gives those users benefits such as exclusive booking windows, priority waitlist, early access tickets to events and other exclusive experiences like meeting the chef or touring the kitchen.Resy books more than 1 million reservations on the platform each week.
The company no longer charges users for reservations, but rather charges restaurants by feature, instead of cover, with three tiers ranging from $189/month to $899/month.
That said, the company is not yet self-serve on the restaurant side, but founder and CEO Ben Leventhal said the team is thinking about introducing it in the future.The key challenge and key opportunity is to do everything we can to make the right choices about what we build and the order we build it in, said Leventhal.
Our goal is to stay focused on restaurants, as a significant amount of the tech we build is built in conjunction with our restaurant partners.