Trends in Tourism Investment in San Miguel de Allende

By Francisco Peyret

Recognition came to San Miguel de Allende starting with its nomination by UNESCO (2008) as a Cultural Heritage of Humanity location. Year after year, «Travel + Leisure» and «Condé Nast» magazines have highlighted it as the best city in several classifications. With tourism on the rise, San Miguel has become a destination to visit and live in. Along with receiving expatriates, the city currently hosts young artists and entrepreneurs with their families, digital nomads, and prominent global investors.

These trends have consolidated because booming industrial cities surround San Miguel, less than an hour and a half drive from three states (Querétaro, San Luis Potosí, and Guanajuato). Visitors also arrive from Mexico City, and there is growing connectivity to San Miguel from the Bajío and Querétaro airports, which are expanding their frequencies and destinations. During the last few years, more investments have arrived, focused on attracting visitors and new residents of high economic levels with sophisticated tourism products, such as wine and equestrian developments. 

For decades, doing business was very spontaneous and independent, using modest capital and a lot of creativity. Local and foreign investors forged a unique style that gave San Miguel a special touch as a destination in the orbit of national tourism. The art schools, the culture, and the strength of San Miguel’s traditions soon catapulted the city into a destination of global caliber.

To better understand how some businesses are currently doing business in San Miguel de Allende, we spoke with Ulises Reyes, manager of Hotel Numu-Hyatt, who gave us a tour of the hotel that will open its doors on January 24, 2023. The project has an investment of 450 million pesos and projects the generation of around 150 jobs. Although Numu belongs to the Hyatt chain, it is a line of this brand of independent hotels aimed at travelers of a high economic level. 

To develop the project, Hyatt hired the firm Artigas Arquitectos, which has existed since 1939. The firm has more than 2,500 projects built in 87 cities in America and Europe, with experience developing projects in diverse areas: subdivisions, shopping malls, hotels, and corporations, among others. Reyes showed us details of the hotel’s spaces (landscaping, designer furniture, art, lighting, amenities, and accessories). The spatial design allows guests to feel comfortable in 44 rooms, two restaurants, a bar, a gym, and a spa. The most unusual aspect of the concept is that the hotel has a lobby dog named Pancho, who will welcome all visitors. The mascot lives in the hotel and is trained to perform his job as a team member.

Finally, Reyes took us to the terrace, where visitors can enjoy a 360-degree view of the city from the pool and restaurant bar area. The bar and restaurants will be open to the public. Numu, located on Nemesio Diez street, is worth a visit. 

It is food for thought to realize how global investments are arriving through businesses in this city offering the best experiences. Now, more than ever, it is essential to take care of San Miguel, forged in a natural, spontaneous, almost artisanal way, from which its essence comes. The city’s strong traditions and communal cohesiveness attract investors, entrepreneurs, and families who are finding the heart of the destination.