Kathrin Hoelzl wins in Lienz

Germany's Kathrin Hoelzl clears a gate during the second run of the women's giant slalom world cup race in Lienz December 28, 2009.

LIENZ, Austria (Reuters) - Germany's Kathrin Hoelzl strengthened her position as number one giant slalom specialist with a World Cup win in Lienz on Monday, while overall leader Lindsey Vonn did not finish after crashing and hurting her arm.

Hoelzl, winner of her first World Cup race in Aspen earlier this month and the discipline's world champion, secured victory in a combined time of two minutes 16.61 seconds.

Thanks to a blistering second run, Italy's Manuela Moelgg fought back from 13th in the morning to take second place 0.05 seconds behind, while France's Taina Barioz held on for third place.

"It was like a home race for me since I live very close to here," Hoelzl told reporters.

"I was pushed by the crowd and I've always done well here."

The race was marred by Vonn's crash in the morning run.

The American, winner of the overall World Cup for the past two seasons and favourite in the speed events for February's Winter Olympics in Vancouver, lost her balance halfway down the Schlossberg piste and fell on her right hip.

The downhill and super-G world champion was able to make it back on her skis, holding her injured left arm.

"It hurts in the left arm and hand," she told Austrian television.

'NOTHING BROKEN'

She was taken to hospital and doctors said she did not suffer a serious fracture but some microfractures in the forearm and some swelling, U.S. team spokesman Doug Haney said.

Vonn is scheduled to start Tuesday's slalom on the same slope and will undergo a fitness test to see if she can compete with a splint -- which she did at the last world championships when she cut her thumb after opening a bottle of champagne.

"Nothing is broken but there are some microfractures in the arm, she may try to race tomorrow," Haney said.

The American's husband, former ski racer Thomas Vonn, told Reuters: "She will try to use the same strapping system as during the world championships. She doesn't know if it will hurt or not and will decide at the last moment whether to race."

Vonn did not lose any ground in the race for the overall crystal globe since closest rival Maria Riesch also failed to finish the first leg and did not score points.

The day belonged to Riesch's team mate Hoelzl, the Val d'Isere world champion being the only skier able to hold Moelgg at bay.

The Italian was 1.19 seconds faster than the German in the second leg yet was again denied her first victory by a slim margin.

Barioz, who recorded her first podium finish, confirmed the good form of the French women's team, who won both races in Are two weeks ago thanks to Tessa Worley and Sandrine Aubert, one of the favourites for Tuesday's slalom.

(Editing by Sonia Oxley)