The other was the Sofitel Queenstown Hotel and Spa, which was ranked fifth and also took out the top spot on a list ranking the best hotel spas in the world.
"After what has been, to say the least, a challenging year, we are over the moon to have received these accolades," The George's general manager, Bruce Garrett told AAP.
"To maintain a world class facility and meet ever-increasing guest expectations is a big ask in normal circumstances but to have done this through a series of major earthquakes and countless aftershocks is something quite special."
The five-star hotel sits on the edge of Christchurch's "red zone" - the area worst affected by the devastating earthquake on February 22, which killed more than 180 people.
Many of The George's staff were personally affected by the quakes, with some losing homes and others not having basic services such as electricity or sewerage, Garrett said.
"While they could be forgiven for taking their eyes off the ball ... our team have day after day turned up and turned it on for our guests.
"Sometimes this involved walking through cordons where no vehicles could travel and other times staying on to ensure the comfort of all guests after an earthquake before returning home to check on family."
Garrett says although the hotel was unable to trade for a month, business has been better than normal for this time of year.
"What Christchurch people need now after so much suffering is some good news, and all Cantabrians should be proud that they have world-class facilities here in their own city," Garrett said.
There were also significant accolades for New Zealand accommodation providers in other categories, with The Lodge at Kauri Cliffs in Northland being named best lodge or resort in the region and 11th-best hotel in the world.
The Matauri Bay property's managing director, Jay Robertson, said the recognition was "a wonderful testament to the continued excellence of our team, without whom these awards would not be possible".
Taupo's Huka Lodge was named third-best lodge or resort in the region and 67th-best hotel in the world.
Queenstown, Christchurch and Auckland were named the third, fourth and fifth-best cities respectively in the Australia, New Zealand and South Pacific region, while Air New Zealand was named fourth-best international airline, up three spots from its seventh-place ranking in last year's awards.
TRAVEL + LEISURE'S 'WORLD'S BEST' AWARDS 2011
Top lodges and resorts in Australia, NZ and the South Pacific
1. The Lodge at Kauri Cliffs, Northland, New Zealand
2. InterContinental Resort and Thalasso Spa, Bora Bora, French Polynesia
3. Huka Lodge, Taupo, New Zealand
4. Lilianfels Blue Mountains Resort & Spa, New South Wales, Australia
5. Reef House Resort & Spa, Cairns, Australia
Top city hotels in Australia, NZ and the South Pacific
1. The Langham, Melbourne, Australia
2. Park Hyatt, Melbourne, Australia
3. InterContinental, Sydney, Australia
4. Park Hyatt, Sydney, Australia
5. Sofitel Queenstown Hotel and Spa, Queenstown, New Zealand
6. Four Seasons Hotel, Sydney, Australia
7. Sydney Harbour Marriott at Circular Quay, Sydney, Australia
8. The Westin, Sydney, Australia
9. The George, Christchurch, New Zealand
10. The Westin, Melbourne, Australia
Top cities in Australia, NZ and the South Pacific
1. Sydney, Australia
2. Melbourne, Australia
3. Queenstown, New Zealand
4. Christchurch, New Zealand
5. Auckland, New Zealand
NZ MENTIONS IN THE 'WORLD'S BEST' OVERALL RANKINGS
Top 10 hotel spas
1. Sofitel Queenstown Hotel and Spa, Queenstown, New Zealand.
Top 10 international airlines
4. Air New Zealand
Top 100 hotels
11. The Lodge at Kauri Cliffs, Northland, New Zealand
67. Huka Lodge, Taupo, New Zealand
- AAP, NZ HERALD STAFF