Spectroscopic properties of the 2 μm infrared (IR) emission (5I7 → 5I8) from trivalent holmium (Ho3+) doped potassium lead bromide (KPb2Br5) are presented. The investigated Ho3+ doped KPb2Br5 (KPB) material was synthesized through purification of starting materials including multi-pass zone-refinement, bromination, and subsequently grown using horizontal Bridgman technique. The bromination process was critical for removing oxidic impurities and enhancing the quality of the crystal. Judd-Ofelt intensity parameters, radiative rates, branching ratios, and emission lifetimes were calculated and compared with results reported for Ho3+ doped KPb2Cl5 (KPC). Under resonant pumping (~1.907 μm), Ho: KPB showed a broad IR emission centered at ~2 μm with an exponential decay time of 7.1 ms at room temperature. The nearly temperature independent emission lifetime is consistent with a negligibly small non-radiative decay rate for the 5I7 excited state of Ho3+, as predicted by the multiphonon energy gap law. The optical absorption, emission and gain cross-sections of Ho: KPB were determined for the 2 μm transition. The Ho: KPB crystal was also evaluated as a potential solid-state material for laser cooling applications.