Höllbacher started grass skiing at the age of 12. In addition to some national successes in the junior sector, he was also able to record successes at the Junior European Championships from 1987 onwards. After his two gold medals in 1989 in slalom and in combination, he was accepted into the Austrian national grass ski team. At his first two world championships in 1989 in Kindberg and 1991 in Bursa , he finished sixth and fifth in slalom, respectively. He won his first World Championship medal in Asiago in 1993 when he finished second behind Klaus Spinka in the slalom . Höllbacher also achieved good performances in the European Cup . In 1992 and 1994 he came in second overall behind Marcus Peschek . Höllbacher won three more silver medals at the European Championships in slalom and giant slalom in 1994 and also in slalom in 1996.
Höllbacher celebrated the greatest successes of his career at the 1995 World Cup in Kálnica, Slovakia . He won the gold medal in both slalom and combined. Two years later, at the 1997 World Championships in Müstair , he won bronze twice in these disciplines. In 1996 and 1997 Höllbacher took third place in the overall European Cup and in 1997 he won his first Austrian championship title in giant slalom, super-G and combined. Three more national titles followed in 1998 and 2001. At the 1999 World Championships in Gaal Höllbacher was second in giant slalom and at his last World Championships in Forni di Sopra in 2001 he won bronze in slalom and combined. After the end of the 2001 season, he announced his retirement.