This is an excellent question, and clears up some of the misunderstandings students have on this topic.
The valence band and the conduction band of a semiconductor are separated by an energy gap that is greater than the order of ##k_{B}T##. Furthermore, the Fermi level of a semiconductor typically lies within the valence band of possible energies. Now, at a non-zero temperature, some (or perhaps many) of the electrons possesses sufficient energy to jump across the energy gap and dive into the conduction band. In this case, there are a few (or many) electrons in the conduction band, and it is appropriate to describe these electronic states using a single-electron wavefunction for each of these individual electrons. On the other hand, the remaining electrons still reside in the valence band. So, rather than placing our attention on the many-many-many electronic states in the valence band (which complicates the calculations), we focus on the few absences of the electrons (conventionally called holes), which can simplify the subsequent mathematics.
Thus arises the concept of a hole for semiconductors. Current is conducted in a semiconductor by only electrons, but physicists find it easier to focus on the behaviour of electrons in the conduction band, and the behaviour of holes (the absence of electrons) in the valence band.
On the other hand, the valence band and the conduction band of a metal conductor overlap. Therefore, the artificial concept of a hole is not really very useful in the description of the conduction of a metal. Therefore, the conduction properties of a metal conductor are described using the behaviour of excited electrons only.
Let me know if there are any mistakes in my explanation.