Hotel Belmar first opened its doors in late 1985.  It was founded by Pedro Belmar and his wife Vera Zeledon, who settled in Monteverde after a decade long sojourn in Austria. It was in fact the centennial chalet guesthouses of Tirol that inspired the vision for Hotel Belmar. This inspiration can be seen to this day.

Hotel Belmar is one of the pioneers of tourism in Monteverde. As only the second hotel in the area, it has seen the town transform from a pre-tourism subsistence agricultural society to a thriving and modern eco-tourism destination. Hotel Belmar was key in this transformation, offering a new kind of employment that allowed for social mobility and an education in sustainability. Throughout its 28 years of existence, Hotel Belmar has shaped the lives of many and holds a special place in the collective memory of Monteverde residents.