Concierge.com's insider take:
Built more than 150 years ago, when Queenstown was just a grubby lakeside mining town instead of the adventure-sport capital of the world, Eichardt's is the poshest waterfront hotel in town. Completely refurbished to incorporate many of the building's original Victorian elements (stone walls, huge double-hung windows, suspended wrought-iron balconies), the hotel now has five gorgeous guest suites outfitted in dark wood and plush, cream-colored fabrics. All have their own gas fireplaces and super-king-size beds; built-in shelves filled with art books; and spacious marble baths with tubs and showers, double basins, and heated floors and mirrors. The three lakefront suites, with their spectacular views over Lake Wakatipu, are worth shelling out a little more for. The common spaces include The Parlour, a firelit lounge where a sumptuous breakfast is served every morning, and the chic House Bar off the lobby—perfect for a nightcap after you've strolled back from dinner in town.