This panorama was made from the 2nd floor of the Grande Luxxe (bldg 2) on approximately Feb 26, 2014, mid-afternoon. It looks toward Puerta Vallarta, which is on Banderas Bay
The river (Rio Ameca) is not blue, but reflects the sky. It splits near the left end of photo and forms the jungle island whose treetops hit at the base of the large hotels, and to the right of that, just below the waterline of the old city. The river, which divides the states Jalisco and Nyarit, flows into Banderas Bay to the right.
Throw in the mountains (often slightly obscured by the marine layer) and the numerous birds, and it makes an enjoyable scene.