"In terms of outlook, we are dealing with a really patchy trading environment in Queenstown, where some markets are doing well and some markets aren't," Mr Everitt said.
The latest international visitor statistics from Tourism New Zealand show total visitor numbers in October are 1.3% lower than in October last year, but arrivals for the full year remain ahead by 3.1% thanks to strong growth from Asia.
International statistics were not broken down by region, but he would agree Queenstown had followed such a trend, Mr Everitt said.
The economies of some Asian markets were doing well and their currencies were strong, but a decline in other international markets was affecting the resort's trading conditions, he said.
"From feedback, it seems there is a bit of caution around; people are having to work quite hard to make sure we're at the top of our game," he said.
Tourism New Zealand chief executive Kevin Bowler said the October drop in arrivals was primarily caused by a 7.4% fall in visitors from Australia, which contributed 6476 fewer visitors than in October last year.
Mr Everitt said the recent growth in some Asian markets was positive, but visitor numbers from the United States, Japan and Britain had declined, which had caused "cautious" trading conditions.
In terms of New Zealand's economy, the Canterbury earthquake had a noticeable effect, Mr Everitt said.
"The figures might have been even better without the earthquake, as there were cancellations," he said.
The latest Commercial Accommodation Monitor statistics showed strong growth in guest nights in Queenstown, but trading conditions needed to be "followed closely".
International statistics showed South Korean visitors totalled 5425 in October, an increase of 37.9%, or 1492, over October 2009. Visitor numbers from China were also strong, increasing 13.3% (1014 people), to 8650.
Mr Bowler said South Korean and Chinese visitor numbers were "bouncing back after a sharp drop following the financial crisis and H1N1 [flu virus] in 2009. The Korean and Chinese economies are steadily improving and confidence is returning, which is leading to growth in outbound travel again."
