In 1973 he took up a "joint professorship" for German and comparative literature at the University of Illinois Urbana-Champaign, teaching there for one semester every two years until the early the 1990s.
In 1954 Höllerer started publishing the bimonthly literary magazine Akzente, one of the most important literature forums in the Federal Republic of Germany.
In 1961 Höllerer published the quarterly journal, Sprache im technischen Zeitalter ("Language in the Age of Technology"); in 1963 he founded the Literary Colloquium of Berlin.
Through his efforts as a publisher and critic and a professor at TU Berlin he helped writers with the post-WWII era of German literature.
Robert Neumann harshly criticized Höllerer's leading role in the Group 47 and in the literary scene.