The women were sleeping when the armed men broke into the villa, ThinkSpain.com reported Tuesday.
Authorities said police were searching for the suspects.
Officials said it was unclear whether all of the victims in the house were from Spain, indicating one of the women may have been from Mexico.
Spain's foreign office told ThinkSpain.com Mexico's main tourist areas generally were safe provided vacationers didn't stray too far from known areas. However, Acapulco is said to be the only top tourist destination in Mexico reporting safety and security problems.