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SQUEEZE Inc. (Head Office: Kitahiroshima, Hokkaido; CEO: Shinichi Tatebayashi; TSE Growth Market: 558A; hereinafter “SQUEEZE”), a company driving AX (AI Transformation) in the hotel and tourism industry, announces that it has entered into a strategic capital and business alliance agreement with Hulic Co., Ltd. (Head Office: Chuo-ku, Tokyo; President: Takaya Maeda; TSE Prime Market: 3003; hereinafter “Hulic”) in the hotel and tourism sector. In connection with the alliance, Hulic plans to acquire approximately 5% of SQUEEZE’s outstanding shares from existing shareholders.
Through this alliance, the two companies will jointly develop hotels utilizing real estate owned or developed by Hulic, centered on SQUEEZE’s “Full Support” model, under which SQUEEZE provides end-to-end support spanning planning, system implementation, and hotel operations. As the first collaboration, a project is underway to convert an office building in Ginza, Chuo-ku, Tokyo, jointly acquired by HistoRy LLC (“HistoRy”)—a joint venture between Hulic and REALGATE Inc. (Head Office: Shibuya-ku, Tokyo; Representative Director: Hiroshi Iwamoto)—and REALGATE into a 41-room apartment hotel. SQUEEZE will operate the property, with an opening targeted for around spring 2028.
This alliance forms part of Hulic’s “Transformation into a Real Estate Trading Company”*1 initiative set out in its Medium- to Long-Term Management Plan (2026–2036). By combining Hulic’s expertise in real estate development and hotel operations with SQUEEZE’s expertise in hotel DX and smart operations, the two companies aim to create new business opportunities in the hotel and tourism sector.
Beyond bilateral collaboration, the two companies aim to use this alliance as a starting point to build a “next-generation platform for the hotel and tourism industry” that organically connects accommodation, real estate, operations, and new business development.
■ Background of the Alliance – Addressing Structural Industry Challenges Through “Tech × Real”
When SQUEEZE was listed on the Tokyo Stock Exchange Growth Market on April 22, 2026, Hulic acquired a portion of SQUEEZE’s shares (approximately 2%). Since then, the two companies have continued discussions regarding potential collaboration in the real estate and hotel sectors.
Today, Japan’s hotel and tourism industry is benefiting from growing inbound demand while simultaneously facing structural challenges including labor shortages, productivity, and profitability. The two companies believe that combining SQUEEZE’s “Tech” capabilities—including hotel operations DX, AI, and smart operations—with Hulic’s “Real” capabilities—including real estate development and revitalization, hotel operating infrastructure, and its group network—can contribute to addressing these challenges and enhancing the value of the industry as a whole. Hotel operations DX will serve as the first area of co-creation, with the companies considering future expansion into a broader range of tourism-related businesses.
■ Three Pillars of the Alliance
Under this alliance, the two companies will advance the creation of a platform for the tourism industry based on the following three pillars.
① Advancing Hotel Operations DX – Building a Co-Creation Platform
SQUEEZE operates through two business models: “Full Support,” under which it manages hotel operations end-to-end, including on-site operations, and “Technology Support,” under which it provides solutions such as the hotel management system “suitebook.” Through this alliance, both models will be applied to Hulic’s real estate and hotel operating infrastructure.
Under the Technology Support model, in addition to “suitebook” and remote operating systems, SQUEEZE will provide capabilities such as “AI Revenue Management,” which optimizes room rates and occupancy based on demand forecasts. This approach is designed not only to address challenges such as labor shortages and on-site inefficiencies, but also to support revenue maximization.
② New Business Development – Expanding the Platform’s Scope
Leveraging the expertise accumulated through hotel operations, the two companies will expand the scope of their collaboration by combining their respective capabilities across areas including housekeeping DX, remote operations, operations BPO, and new asset development. Through Hulic’s expertise in planning and developing new assets, its M&A and partnership network, and proof-of-concept initiatives utilizing hotels and other assets within the Hulic Group, the companies will build new areas of growth on the co-creation platform.
③ Real Estate Collaboration – Integration with “HistoRy” and Other Real Assets
SQUEEZE has begun collaborating as a hotel partner for “HistoRy,” a joint business initiative between Hulic and REALGATE. Going forward, in addition to the first project in Ginza, the companies plan to develop multiple hotel conversion projects. The two companies will also explore establishing a supply base of real assets to support the co-creation platform.
Figure: Alliance Overview
■ Specific Collaboration Project – Conversion of a Ginza Office Building into a Hotel
As the first collaboration project under “HistoRy,” an office building in Ginza, Chuo-ku, Tokyo, jointly acquired by HistoRy and REALGATE on July 3, 2026, will be converted into a 41-room apartment hotel designed for groups and multi-night stays. SQUEEZE will operate the property, with an opening targeted for around spring 2028.
Before: Exterior / After: Exterior (Current Rendering)
■ Comment from Kazuhiro Noguchi, Senior Managing Executive Officer, Hulic Co., Ltd.
“Through this alliance, we will work together to co-create a next-generation platform in the hotel and tourism sector. While the industry is benefiting from the tailwind of growing inbound demand, it also faces structural challenges including labor shortages, productivity, and profitability. We believe that combining our expertise in real estate development and hotel operations with SQUEEZE’s expertise in hotel DX and smart operations will provide solutions that help address these challenges. Through our collaboration with SQUEEZE, which has extensive expertise and a strong track record, we aim to strengthen our presence in the hotel and tourism sector while pursuing sustainable growth and enhanced corporate value.”
■ Comment from Shinichi Tatebayashi, Representative Director & CEO, SQUEEZE Inc.
“Japan’s hotel and tourism industry is facing significant opportunities from growing inbound demand, while at the same time confronting structural challenges related to labor shortages and productivity. SQUEEZE has addressed these challenges through the dual strengths of technology and our own hotel operations.
Entering into this capital and business alliance with Hulic, one of Japan’s leading real estate companies, represents a major step toward expanding our initiatives beyond improving the efficiency of a single company and developing them into a shared foundation for the industry as a whole. By combining Hulic’s strength in ‘Real’ assets with our ‘Tech’ capabilities, we will work to enhance the productivity and appeal of Japan’s tourism industry through the creation of a next-generation platform for the hotel and tourism sector.”
■ About Hulic Co., Ltd.
Company Name: Hulic Co., Ltd.
Listing: TSE Prime Market (Securities Code: 3003)
Head Office: 7-3 Nihonbashi Odenmacho, Chuo-ku, Tokyo, Japan
Established: March 1957
President: Takaya Maeda
Business Description: Ownership, leasing, sale and purchase, and brokerage of real estate
URL: https://www.hulic.co.jp/
■ SQUEEZE Inc. was listed on the Tokyo Stock Exchange Growth Market on April 22, 2026
URL: https://prtimes.jp/main/html/rd/p/000000223.000015235.html
■ About SQUEEZE Inc.
Company Name: SQUEEZE Inc.
Listing: TSE Growth Market (Securities Code: 558A)
Head Office: 1-52 Sakae-cho, Kitahiroshima, Hokkaido, Japan
Founded: September 1, 2014
CEO: Shinichi Tatebayashi
Business Description: Provision of the AX platform centered on the next-generation operations platform “suitebook”; development and provision of AI-powered operational platforms for the hospitality industry; hotel planning and operations; and operational support services through BPO
URL: https://squeeze-inc.co.jp/
*1 In its Medium- to Long-Term Management Plan announced in February 2026, Hulic identified as a core strategy the evolution of its business model through the active use of M&A in growth areas and its “Transformation into a Real Estate Trading Company” (creation of a conglomerate premium), with the aim of achieving profit growth and enhancing corporate value.
