Hölzl, reigning world champion in the discipline, clocked 2min 16.61sec for the two legs to finish five-hundredths ahead of Italy's Manuela Moelgg, with Taina Barioz of France in third at 0.11sec.
"Everything's gone well since the start of the season: no injuries, great preparation and a lot of confidence since I won the world title," said Hölzl.
The German, however, played down her hopes for next month's Winter Olympics in Vancouver. "We have often 10 racers from the team lined up and we support each other," she told reporters. "The Winter Olympics are still far off and I'll take each race as it comes."
The day's racing was marred however by Vonn's accident during the morning's first leg, which saw the great American hope for Vancouver having to leave the piste with her left arm in a sling.
Vonn overcompensated after coming late out of a turn halfway down the course. She clipped the next gate and did the splits before her skis buckled underneath her and bounced her onto her hip and back.
The paramedics were called as the shaken 25-year-old remained sat on the slope for several minutes before getting unaided to her feet and skiing the rest of the way down the mountain, arm in sling.
The American told Austrian TV channel ORF that she felt a "sharp pain in her left hand and wrist".
"I'll go to hospital to have an x-ray. I hope it's not too serious."