A Queensland school leaver has suffered a fractured pelvis after falling from a balcony while trying to retrieve some cigarettes on the Gold Coast.

The 17-year-old is believed to have leant over the balcony at a Surfers Paradise apartment when he fell two floors about 3:30am on Thursday.

There have been suggestions hotels should close balconies during schoolies' week. Credit:Michelle Smith

He was taken to Gold Coast University Hospital where he remains in a stable condition, but Senior Sergeant Laurie Shevlin said the teen was "very lucky" the incident was not far more serious.

"I can only assume that if it happened at a much higher elevation - even about the fifth or sixth floor - we could be looking at an entirely different outcome," he said.