Former Hilton CEO Stephen F. Bollenbach Passes Away
by Daniel McCarthyLas Vegas Hilton. Photo: .
Stephen F. Bollenbach, the former chief executive of Hilton Hotels, financial wizard and longtime hotel industry veteran, passed away after a long illness this month. He was 74.
Before joining Hilton, Bollenbach was the treasurer of Marriott for four years before leaving to become chief financial officer at Holiday Corp., parent of Holiday Inn. He then worked as the chief financial officer at Walt Disney Co., during which he helped negotiate the company’s acquisition of Capital Cities and the American Broadcasting Corporation for $19 billion. The deal is considered one of the landmarks in the company’s history and helped create the industry giant that is operating today.
Bollenbach then moved on to the Trump Organization where he served as the company’s chief financial officer for two years. Bollenbach was instrumental in refinancing of Trump’s brands during the downturn in Atlantic City during the 1990s.
When he was appointed to CEO at Hilton in 1996, he was the first person outside of the Hilton family to hold the position. During his time there, Hilton acquired Bally Entertainment Corp., which gave the company its first Atlantic City property.
He was also head of the company when Hilton’s U.S. and international properties unified under one Hilton brand, creating a mega international hotel company.
A longtime Los Angeles resident, Bollenbach got his degree at UCLA. He is survived by his wife, two sons and two grandchildren.
