Value for money, awesome view and 5 mins walk to Queenstown center. I would strongly recommend this place. Also most activities like bungy jump, gandola, luge, paragliding etc is in walking distance of 10 mins.
In terms of food, almost everything is available in Queenstown center.
I strongly recommend if you are staying first few days in Queenstown, you will not required to rent car as most activities provide courtesy shuttle facility.
so you can rent car while leaving queenstown.