Destination Rotorua Marketing general manager Oscar Nathan said Rotorua did not have the same levels of accessibility as Auckland and Queenstown, but compared well to those centres in terms of performance.
Industry specialists at the summit, which was attended by senior executives from tourism businesses from all parts of the industry, said investing in tourism infrastructure was essential for development.
Mr Taljaard said Rotorua already had a variety of accommodation options, but was yet to engage with the luxury market.
"Rotorua needs a five-star hotel. There are a number of visitations that come to the city. The beauty of Rotorua is that it has holiday parks with tent sites and four-star hotels, but we need a product that can attract up."
That would align with the spa and wellness market that the Rotorua District Council had moved into with the Kuirau Park Beppu Onsen facility development plans, he said. "It makes perfect sense; they are perfectly aligned with the spa and wellness market. We need some luxury in the market."
Speakers at the summit covered national tourism trends and indicated how well the industry was moving towards its $41 billion national target for total tourism revenue by 2025.
Meanwhile, Rotorua Canopy Tours director James Fitzgerald won the 2014 PATA New Zealand Trust Young Tourism Leader Award.