Central Puerto Vallarta has several major components. The Zona Hotelera (Hotel Zone), with most of PV's deluxe resorts, is north of town. Still farther north is the Marina Vallarta, a public marina that's practically a town unto itself with more resorts as well as restaurants, minimalls, condos, an 18-hole golf course, a 355-slip marina, a cruise-ship pier, and the Royal Pacific Yacht Club. Farther north is Nuevo Vallarta, just over the state line in Nayarit, at the mouth of the Río Ameca. This beautiful community with beachfront houses and condos on canals with direct access to the bay is home to several all-inclusive resorts.
Downtown, a.k.a. Viejo Vallarta, is the heart of the city, where many two- and three-story houses have been converted to shops, galleries, and restaurants. Dividing downtown in two is the Río Cuale. This river -- which ranges from ebullient to anemic, depending on the rains -- embraces a sliver of an island with cultural center, museum, restaurants, and shops. South of downtown and the Río Cuale, Olas Altas and Los Muertos are two beaches backed by lively outdoor restaurants and modest hotels. If you head farther south still, en route to Manzanillo, the coast is sprinkled with some of the Mexican Riviera's most exclusive resorts. You won't see them from Carretera 200 (Highway 200); most are on the beach, down manicured but unpaved roads.
A rental car is helpful to fully explore the Zona Hotelera, marina area, Nuevo Vallarta, and the many beaches and small towns north to Punta de Mita. That said, at a minimum of $50 per day for car rental, many visitors will save money using taxis and city buses, and thus avoid hassles with parking (not to mention drinking and driving). Taxis cruise up and down the main drags, and buses fly along -- most at a terrifying speed. A car is a serious hindrance downtown and in the Río Cuale area. You can see most of the interesting sights on foot -- just be sure you wear comfortable shoes for the cobblestone streets.