Lagerfeld told WWD about the venture, "[I will approach the project] like my own houses and apartments, but I have more houses than I need, and I don't want to do any more. So I can – how could I say? – get rid of my frustration by doing hotels."

The tower hotel in Macau will be 20-storeys high and is scheduled to open in 2017. Chanel-helmer Lagerfeld isn't the only designer getting in on the act however with a Versace-themed hotel also planned as part of the same Lisboa Palace Luxury Development.

Lagerfeld added, "You know, Gabrielle Chanel always said, 'I only make dresses I would wear'. And I make only rooms where I would like to sleep. It's as simple as that. When I do a thing like this, I think, 'Would you live there or not? Do you want to wake up there? Do you think the bathroom is comfortable?' It's very childish thinking, but you know it's like the song My Way."