The hotel was later renamed the Sheraton Maria Isabel Hotel and Towers. They renamed it the Maria Isabel-Sheraton Hotel and added a new rear tower, designed by Mexican architect Manuel De Santiago-de Borbón González Bravo (great-grandson of Queen Isabella II of Spain), increasing the number of rooms from 502 to 747. In 1969 the Maria Isabel was sold to Sheraton. In November 1963, Balsa Hotels became represented by Sheraton Hotels in the US. In April 1963 the Maria Isabel was taken over by Mexican hotel magnate Cesar Balsa's Balsa Hotels.
The hotel was designed by renowned Mexican architect Juan Sordo Madaleno, working with architects José Villagrán García, Ricardo Legorreta, and José Adolfo Wiechers. He named the hotel for his late daughter, Maria Isabel Patiño de Goldsmith, who died in 1954, at the age of 17, from complications in the seventh month of pregnancy, after eloping with 20-year-old British heir James Goldsmith. The Maria Isabel Hotel was built in 1962 by Bolivian tycoon Antenor Patiño.
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