"We don't have any confirmation of any locations right now," Melissa Booth, spokeswoman for Three Foot Seven, the company making The Hobbit, said on Monday.
"It's a pretty long shoot so I guess we could. I know they've scouted all over the country.
"They did the same with Lord of the Rings - basically, look in as many locations as possible to see what's there, and they have a look at what they need."
When asked if the use of Wakatipu locations for the original trilogy was an indication they would be used in The Hobbit films, Miss Booth said: "Not really, because the story is just a different story. They are set 60 years apart. Obviously, Hobbiton is in both stories."
A Queenstown film-making insider speaking on condition of anonymity said it was early days. It was anticipated The Hobbit would be mostly filmed in a studio with computer-generated imagery added in post-production.