Mexico City has 18 hotels in the Michelin Guide's Key selection — 1 Two Keys and 17 One Key. 6 can be booked with points: 3 through Hilton Honors, 2 through World of Hyatt and 1 through ALL – Accor Live Limitless. Cash-only independents are listed too so nothing is missing from the map.

35k pts
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Median points per night and cents-per-point value from AwardClaw's award tracking. Value is the cash rate divided by the points price, so higher is better; green means the redemption beats the program's usual value by a wide margin.
| Hotel | Keys | Program | Points / night | Value |
|---|---|---|---|---|
| Volga Mexico City, Mexico | Hyatt · Mr & Mrs Smith | 34,750 | 1.0¢/pt |
SLH 3
~0.5¢ per point · Amex Membership Rewards transfer to Hilton at 1:2, with 1:2.
Mr & Mrs Smith 2
~1.7¢ per point · Chase Ultimate Rewards and Bilt Rewards transfer to World of Hyatt at 1:1, which is why Hyatt is the program most award travelers build around.
Sofitel 1
fixed at 2¢ per point · Capital One and Citi ThankYou points transfer to ALL at 2:1.
18: 1 Two Keys and 17 One Key. That makes Mexico City the biggest Key city in Mexico.
6 of the 18: Volga, Brick Hotel, Casona Roma Norte, Hacienda Peña Pobre, La Valise Mexico City and Sofitel Mexico City Reforma. By program: 3 through Hilton Honors, 2 through World of Hyatt and 1 through ALL – Accor Live Limitless.
Two Keys is the highest rating in Mexico City, held by Casa Polanco. None of them take points.
Volga, at a median of about 34,750 Hyatt points a night — 1.0¢ per point against the cash rate.
Hotel selection and Key ratings from the MICHELIN Guide hotel selection; points prices and value are AwardClaw's own observations of each program's award pricing and move with dynamic pricing. Program links reflect the loyalty program a property belongs to at the time of writing — partner portfolios (Mr & Mrs Smith, Small Luxury Hotels, Design Hotels) change, so confirm on the program's site before transferring points. AwardClaw is not affiliated with Michelin or any hotel group. MICHELIN is a trademark of its owner.