Three quarters down the coast you finally arrive to a somewhat cosmopolitan town with great, cheap food. Loreto was first built by the missionaries. The mission is located in the main plaza and visitors are welcome to visit the accompanying museum. There you will learn what it was like to live with no cars or easy access to any other part of the peninsula.
Apart from the Mission, you can walk around the town, there are a couple restaurants, hotels and shops along a quaint pedestrian zone. The two hotels are Posada de las Flores, an upscale hotel with a pool and 1967, a tiny hotel on the corner of the plaza with great rooms.
Apart from the Mission, the town is known for its outdoor activities. There is a pleasant boardwalk and a sandy beach right in town. There are many adventure sport stores where one can organize scuba diving, kayaking, paddle boarding, and boating trips to the nearby Coronado Island.
Loreto is similar to San Ignacio in that it is a Mission however it has the great advantage of being on the Sea of Cortez, which means you get to explore a beautiful coastline (with a lot of sandy beaches!).
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