Chanel designer Karl Lagerfeld is planning to enter the hospitality industry following the signing of a deal to design a 270-room signature hotel in Macau.

The 270-room property is expected to open in 2017 in a 20-story tower, the Lisboa Palace, in the gambling enclave in southern China.

“An entire hotel designed by me. It’s the first time for me. I think the idea is great,” said Lagerfeld in a statement.

No financial details were revealed.

A number of other fashion designers have been putting their stamp on hotels around the world, including Versace and Bulgari, who recently opened signature hotels in Asia.

Asia remains a leading tourism destination, with international visitor arrivals into Asia and the Pacific continuing to grow.

Last year visitors increased by six per cent in June 2013.

South-east Asia saw a double-digit gain, but all sub-regions reported good percentage growth performances for the month.

Increasing numbers of mainland Chinese visitors played a major role in this exceptional performance in many destinations across the region.

North-east Asia saw a collective gain of five per cent in June 2013 year-on-year, with Japan reporting an inbound gain of 32 per cent.

Second in the growth line-up, Hong Kong SAR, Korea and Macau SAR showed double-digit growth rates of 16 per cent, 12 per cent and 10 per cent respectively.

Macau – the only place in China where gambling is legal – is estimated to have received $38bn in gambling revenue in 2012.