We report a spectroscopic investigation and an efficient Ho:LiLuF4 laser in-band pumped at 1938 nm. This represents the first laser emission of a fluoride crystal grown by micro-Pulling Down method in the 2 μm wavelength range. The Ho:LiLuF4 laser yielded a maximum output power of 7.1W with a slope efficiency of 41% and a threshold around 5W, at lasing wavelength of 2054.2 nm.