Excellent location. A few minutes walk up the hill to the popular skyline Gondola Station. A few minutes walk down the hill to downtown attractions. The bus to the airport ($2NZD ~20minutes) in the downtown area is within walking distance as well. If you do drive, the location is also very easy to get out of Queenstown to other popular near by attractions (Arrowtown; Shooter, Skippers Canyon, Coronet Peak etc, etc).