Sales of the condos off the plan were not moving fast enough, he said, so a decision had been made to revise the project by adding 43 villas, with prices expected to range from 27 to 50 million baht.
Construction has yet to begin.
Amari, part of the Onyx Hospitality group, has had a strong presence at the south end of Patong for decades with the Amari Coral Beach Resort.
The new development, announced in February, comes on a stretch of pristine clifftop real estate that has lain untouched behind the existing Amari resort.
Property experts remain hopeful that Thailand's new government will provide stability and entice international buyers back to the island in numbers. The condo market, which has greater appeal to Thais, is in oversupply.
Amari also has a large land holding in Krabi and the Baan Krating brand on Phuket and in Khao Lak. In February, Amari executives suggested a low-rise boutique resort, with boat-only access, could be the outcome at the Phuket Baan Krating, tucked close to Phuket's Nai Harn beach.