Detective Grant Miller, of Queenstown, said two men from the North Island, aged 21 and 24, kicked and punched the German man (24) in the head and face, knocking him unconscious on Shotover St about 3am.
Det Miller said the victim, who was visiting Queenstown on his own, had been out drinking but was not intoxicated at the time of the attack.
He was taken to Lakes District Hospital for treatment of facial and neck injuries.
The two alleged offenders, who started working in Queenstown just over a week ago, were both intoxicated and following the assault had quickly fled the scene.
Police inquiries, with the assistance of the public, and the use of several private CCTV systems, helped police locate the men by 4pm on Saturday.
They were arrested and charged with serious assault.
Det Miller said a male witness saw the two men confront the German near Camp St some time between 2am and 3am and the assault took place three blocks away, soon after, on Shotover St.
The witness told police one of the men was wearing a "distinguishable singlet", and he had seen the man in town earlier in the day.
Police used the information to pinpoint the two men's Queenstown residence, where they were later arrested.
The victim's wallet was stolen during the incident.
Det Miller said the injured tourist was discharged from Lakes District Hospital about midday on Saturday with swelling, bruising and grazing to the face and head. He was wearing a neck brace.
The man left Queenstown after being discharged, and was expected to fly home today, a day earlier than originally planned.
The incident is not being treated as a racial attack and two men are due to appear in the Queenstown District Court today.
