I think so but the article from our resort in Puerto Vallarta calls it Las Penas. Penas means sorrows so I think the article is wrong and you are right. Nice catch !!!
Bill
What does Vallarta mean? The official meaning of Puerto Vallarta is quite simple, Vallarta means different things to different people...
vallarta.villadelpalmar.com
The Historical Origins: What Does Vallarta Mean?
You may wonder what Vallarta means in English. Still, it's hard to pin down, mainly because it is the last name of the former governor of Jalisco, Ignacio Vallarta. As an influential individual in Mexico's history, Vallarta made a name among citizens who admired his political endeavors and respect for the people.
In a significant act of respect and honor, the city changed its name from Las Peñas (The Rocks) to Puerto Vallarta in 1918. The Vallarta meaning in English is just that, the last name of an influential person. Puerto, on the other hand, means port, or a town with a harbor where ships can load and unload. Together, the Vallarta meaning in English is Port of Vallarta.