In the ritzy Polanco district, home to high-end boutiques and some of the city’s best restaurants, Las Alcobas has plugged the gap between the high-end chains (St. Regis, Four Seasons) and the hipper-than-thou independents (Condesa DF), with slick service and an unusual, refined look that draws on Mexico’s heritage. The 35 guest rooms blend luxe materials in a range of earthy colors with motifs that recall the country’s Aztec and Mayan sites—suede headboards and walls are animated with subtl...