Alcobas translates to "bedrooms" or "chambers." While seemingly simple, it's a more poetic and slightly archaic term than the common "dormitorio."
In the song, the phrase "anda suspirando por las alcobas" (it goes sighing through the bedrooms) evokes a sense of mystery and intimacy. It suggests that whatever "it" is (the "qué será?"), it's a pervasive, almost ghostly presence that touches the most private spaces, making the word feel intriguing and evocative.
Willie Colón kicks off this song by telling us he's asking a question that he can't answer himself. He calls it "un tema incompleto porque le falta respuesta" (an incomplete theme because it's missing an answer) and invites us, the listeners, to figure it out. The whole song is one big riddle, constantly asking "Oh ¿qué será?, ¿qué será?" (Oh, what could it be? what could it be?). It's about some mysterious force that's absolutely everywhere and affects everyone, from lovers and poets to "todos los bandidos y desvalidos" (all the bandits and the helpless).
This thing has no rules. The lyrics say it "no tiene decencia y nunca tendrá" (has no decency and never will) and "no tiene censura y nunca tendrá" (has no censorship and never will). It's a feeling that wakes you up at night and makes you tremble, and it's a question that even children will investigate. It's an unstoppable presence that shows up in the fantasies of the unhappy and is shouted about in the marketplace. The song never gives a final answer, instead suggesting it could be nature, or ghosts, or just a feeling so powerful it defies any single name.