We report on the various types of Peierls like two dimensional structural modulations and relative phase stability of 2H and 1T poly-types in the RexMo1-xS2 and RexW1-xS2 alloy system. Theoretical calculation predicts a polytype phase transition cross over at ∼50 at. % of Mo and W in ReS2 in both monolayer and bulk form, respectively. Experimentally, two different types of structural modulations at 50% and a modulation corresponding to trimerization at 75% alloy composition are observed for RexMo1-xS2 and only one type of modulation is observed at the 50% RexW1-xS2 alloy system. The 50% alloy system is found to be a suitable monolithic candidate for metal semiconductor transition with minute external perturbation. ReS2 is known to be in the 2D Peierls distorted 1Td structure and forms a chain like superstructure. Incorporation of Mo and W atoms into the ReS2 lattice modifies the metal-metal hybridization between the cations and influences the structural modulation and electronic properties of the system. The results offer yet another effective way to tune the electronic structure and poly-type phases of this class of materials other than intercalation, strain, and vertical stacking arrangement.