Mexico

Hotel investment in Oaxaca and San Miguel de Allende

Square Park develops and holds boutique hotels and rental homes in two Mexican cities, Oaxaca de Juárez and San Miguel de Allende. We've completed 30 construction projects in Mexico, and our sister company HOLT operates the properties once they open.

Courtyard with a black reflecting pool, palms and bougainvillea at Hotel De Mi Independencia, Oaxaca

Why Oaxaca

Oaxaca's historic center has been a UNESCO World Heritage Site since 1987, and travel to the city keeps climbing. The airport handled 1,864,967 passengers in 2025, 2.8 times its 2015 traffic, and international passengers were up 84% on 2019. City hotels ran 54.3% occupancy that year against a 47.7% average for Mexico's inland cities.

Only 715 of the city's 7,752 hotel rooms are five-star. The Barranca Larga-Ventanilla highway, open since 2024, cut the drive to the beach at Puerto Escondido from about six hours to about three.

Our Oaxaca projects

Hotel De Mi Independencia was a run-down 120-year-old hacienda in the Centro Histórico, three blocks from the Zócalo. The family that owns it had turned away retail tenants and wanted a hotel in memory of their matriarch. We invested alongside them as the LP and finished the hotel in under a year. HOLT operates it at close to 90% occupancy year-round.

Villa Noria (La Casa del Barro Verde) was an aging group villa whose owner couldn't fund the renovation. We put capital in next to the owner and rebuilt it with Oaxacan architects and craftsmen, and it now books large groups through HOLT.

Next is NEXUS, a planned 31-key hotel one block from Independencia with a pool, a restaurant and a cocktail lounge open to the public.

San Miguel de Allende

We've been designing, renovating and building in San Miguel since 2020 and have dozens of projects there, mostly rental homes. Owners and contractors we've worked with often bring us buildings before they reach the market.

Hotel Del Pueblito started as an unfinished budget hotel on a one-block street four blocks from the Parroquia. The owner had run out of money partway through. We redid the rooms and bathrooms, added workspaces and fast Wi-Fi, and brought in a local chef to run a ground-floor restaurant. See more of our San Miguel de Allende projects.

How our Mexico deals work

Most of our hotels in Mexico started with an owner who had a good building and no way to finish it. Square Park brings the capital and the design and construction team, and HOLT takes over operations when the doors open. The owner keeps the building and gets a better income from it.

We hire local architects, craftsmen and contractors and keep design in-house. Permits and skilled labor are where projects in Mexico usually slip, and handling both in-house is how we hold cost and schedule.

Talk to us

If you own a building in Oaxaca or San Miguel and want a partner, or you're an accredited investor looking at Mexican hospitality, email benjamin@squareparkcapital.com or call +1 (929) 301-5542.