I just got back from the St. Regis, was there from Aug 25 to Aug 31.
It was fun, but there was not a whole lot of swell in the water. We got in a couple of sessions at La Lancha, which is fun and mellow, where my wife got lessons. There are a bunch of fun spots in the area that are not too hectic. La Lancha is about 15 minutes from the St. Regis property, with most of that drive being to the Punta Mita property gate. There are a few spots on the Punta Mita property, behind the gates. I surfed one of them, a right point that we could see from our hotel room. I only got to surf it at waist high, I rented a longboard from the people at the resort, but it was fun at that size. I REALLY wish I had gotten to surf it with some swell in the water. I believe that spot is called El Skupa, but I'm not positive. There is also Bahia, and El Faro, both of which are behind the property gates but south of the St. Regis, they are basically in front of some of the condos and houses. I did not surf either, but there was not really swell in the water. I will say that the right I surfed, El Skupa, is quite rocky. The night I arrived it was about head high and peeling off this little island right off shore, with no one out. Unfortunately we did not arrive until the sun was going down. I was REALLY wishing we had arrived an hour earlier. Unfortunately that spot never got that good again. From what I gather the Punta Mita spots rarely get a crowd, although sometimes people will boat in from the outside. As there was not much swell in the water I can't confirm this. For the people that are less experienced La Lancha is probably a better bet, as the waves on the Punta Mita property are pretty rocky.
Check out a company called WildMex. They have a location in Punta Mita, by the gas station. You can park there and walk to La Lancha. They offer lessons, and you can rent boards. I brought my own board, but from what I saw in there shop they had a good selection of rentals. Just google 'WildMex Punta Mita' and they will pop up. They also have a location in Sayulita. Their instructors were great, and we were able to store our stuff at their shop. I would contact them and ask some questions. We did not have a car, so we took cabs from the St. Regis, which is easy.
Here is a map from the WildMex website:
1) San Pancho Left-hand river mouth break, sand bottom Shortboards only Works on south swells, wind sensitive, only works after the river mouth has opened due to rain. Not for beginners. Get to San Francisco town (San Pancho) (10 min. north of Sayulita) then go all the way down the main street...
wildmex.com
If you zoom way in on the Punta Mita zone you will see where the St. Regis is. Where it says 'St. Regis Resort Remede Spa' you will see a little island, the right point I surfed on property is off that island. You can actually walk out to that island, though it is quite rocky. I would definitely consider bringing reef booties. You can also see the other breaks behind the gates, Bahia and El Faro, the right point is not marked on the map. The map also shows some other breaks in the area, La Lancha, Punta Burros and some others. You will be able to drive to them easily if you have a car. We surfed La Lancha at stomach high, but did not hit any other spots. The WildMex website has lots of good info.
Aside from surfing, the resort was a blast. There are tennis courts you can bike to, the food was good, and there is a 2 for 1 happy hour on drinks from 3 to 4 in the afternoon. The days we did not surf we would work out in the morning, the gym is okay, eat brunch, relax, and play tennis in the early afternoon. It is INSANELY humid, so the tennis was interesting. Overall it was a great trip, I just wish we had gotten more surf. Looking at Punta Mita it is pretty obvious that the potential is insane if there is some swell in the water. I would definitely go back as an all-around trip, but if it was a surf only trip I would want a place with a bigger swell window.
Behind the Punta Mita gates, but not on the St. Regis property, there is a restaurant called Sufi which we really enjoyed. You can get the St. Regis to make reservations for you. Or, you can borrow bikes from the St. Regis and bike over there, the bikes are free for the first hour, and make reservations yourself. It is a cool way to check out the property. It is pricey, but the food and drinks are great and the view is insane. I highly recommend it.
Have fun. For the most part the waves there are pretty mellow.