In 1942, in San Juan, Puerto Rico, a casino is organizing a farewell party for its patrons, since it's about to be turned into a US military base. The guests drink, seduce and gossip, but some also plot against each other.
After several years of dreaming about the beautiful girl in a calendar photo, a composer, being overwhelmed by his girlfriend's jealousy, discovers that his next-door neighbor is that girl.
The film dramatizes the life of Isabel "la Negra" Luberza Oppenheimer. Pablo, a Caribbean peasant, and Isabel, a politician's mistress, open a brothel that becomes internationally famous. Though they gain wealth and power, the one thing that Isabel seeks continues to elude her.