Preston Robert Tisch
Nominated by American Hotel & Lodging Association
Inducted in 2010
Shaping the Industry
Preston Robert (Bob) Tisch was one of the most renowned and respected business entrepreneurs in the country. He was the co-founder and chairman of Loews Corporation and co-owner of the New York Football Giants where he served as chairman and co-CEO.
Bob and Larry Tisch started out with a small hotel in New Jersey and built it into a prosperous hotel chain and company, Loews Corporation, which now includes CNA Financial Corporation, Lorillard Tobacco, Diamond Offshore Drilling, Inc., Boardwalk Pipelines, LLC., Bulova Corporation, and Loews Hotels. Bob spent the early part of his career leading the development of their hotel business, and soon achieved great renown as a consummate hotelier and a leader of the hospitality industry.
Bob built the Americana Hotel in Bal Harbor in 1957, designed to attract convention business, it was a concept sell ahead of its time. Later on, he successfully led the hospitality and hotel industry to a large expansion in hotels in the 60s and early 70s. As an innovative initiator, Bob spearheaded NYC’s “The Big Apple” campaign and popularized the New York City nickname when he served as chairman of the New York Convention and Visitors Bureau, also known as NYC & Company. These pioneering decisions and dedication to the hospitality industry characterized Bob. Throughout his life, in each of his business endeavors, no issue was too small and employee too unimportant for his attention.
Single Most Important Contribution
With his late brother, Larry, as his partner Bob built Loews Corporation into one of the largest diversified financial corporations in the United States. The brothers’ first investment together was a small hotel in New Jersey, Laurel-in-the-Pines, which they quickly built into a prosperous hotel chain. In 1969, it was reported that the brothers once opened 6,500 rooms without a hitch. Business Week, in April of that year, credited Bob with this achievement, reporting that he “practically camped out in the construction shacks, hopping from one half-finished building to another, inspecting completed structures.” Each time the brothers acquired a new company, Bob would immerse himself in the business work to fit it into the Loews family.
Expansive Influence
Bob spent an unprecedented 19 years as chairman of NYC & Company, presiding and was also founding chairman of the New York City Convention and Exhibition Center Corporation.
In addition to his impact on the business community, Bob was a leader in the sports industry. He established Preston Robert Tisch Center for Hospitality, Training and Sports Management at New York University. As an active owner of the New York Giants from the time he acquired 50 percent of the team in 1991, he helped to streamline business practices, contributing his expertise to the front-office management. He was a regular presence at his Giants Stadium office and attended every home and away game, as his health permitted. At the NFL, he played an important role, providing his insights and acumen while helping to strengthen the professional sports league. He was also a member of the League’s Finance Committee.
Distinguished Achievements of Lasting Value
During the administration of President Ronald Reagan, Bob was appointed Postmaster General of the United States, serving from August 1986 until March 1988. He is noted in restoring confidence in the integrity of the postal service on Capitol Hill and with the public. In May 1990, recognizing Bob’s considerable diplomatic sill, Mayor David Dickens appointed Bob as New York City’s Ambassador to Washington. Through 1993, he served as a liaison between the business community of New York and his friends and colleagues in the national government in Washington.
Bob and Larry started their business from a small hotel in New Jersey to largely diversified financial corporations. For that reason, in 2002, the American Hotel & Lodging Association presented the prestigious Hospitality Heritage Award to Bob and his family for their commitment and innovations to the lodging industry.
Outstanding Service to Industry Organizations
Bob had a remarkable career in public service, playing a major role in New York City’s business and civic life. His participation and leadership roles in our industry associations, including: NYC & Company, New York City Convention and Exhibition Center, Citizens Committee for tow Democratic National Conventions in NYC, New York Chamber of Commerce and Industry, the United States Postal Service, Council on Foreign Relations, the Center for Association Leadership (ASAE), American Hotel & Lodging Association (AH&LA), Hospitality Sales and Marketing Association International (HSMAI), Professional Convention Management Association (PCMA), and Meeting Professionals International (MPI) are well documented and appreciated by the highly prestigious organizations.
As a chairman of the New York Convention & Visitors Bureau (now renamed NYC & Company), the bureau orchestrated citywide events such as the 100th Anniversaries of the Statue of Liberty and the Brooklyn Bridge, and the nation’s leading Bicentennial Celebration featuring the Tall Ships. When Bob served as chairman of the Partnership of New York City and the New York Chamber of Commerce and Industry, he was instrumental in developing campaigns to enhance New York’s position as an international business center.
Contributions to Society
As one of New York City’s top civic leaders, Bob Tisch made an indelible impact on society though his philanthropic leadership and his personal involvement in countless charitable endeavors which improved life for thousands of people throughout New York City and the country.
Bob was much more than a great philanthropist. In addition to his financial support, he provided leadership – significant time and expertise – to many charitable organizations and educational institutions which he was involved. He was a long time trustee of New York University, and with his family, was a significant contributor to its growth and success. As a founding director of City meals-on-wheels, he served as president of the Board of Directors for ten years, then as honorary chairman, leading the charity to increase its delivered meals to the homebound elderly by 129 percent. Bob was also founder and chairman of Take the Field, a non-profit organization which rebuilt 43 crumbling athletic facilities in the New York City public high schools. Under his leadership, the charity raised over $130 million in public and private dollars for these state-of -the-art fields. Bob was also a member of the Council on Foreign Relations, and elected as a member of the American Academy of Arts and Sciences.