Hilton Worldwide to be China's official hotel sponsor

Hilton H Honors, the guest loyalty programme for the private equity-owned chain's 10 brands, is the name that will appear on Team China branding.

Athletes, and Chinese Olympic Committee members will be given gold elite membership of the scheme.

Yang Shuan, vice president of the Chinese Olympic Committee, said: "The level of competitive sports in China has reached a new height, and having a partner like Hilton Worldwide will help foster athlete development and promote the Olympic movement."

The news comes with the London 2012 Olympics less than a year away. The Games are likely to come significantly within the current £9.3bn budget. However, this is more than three times the budget that was anticipated during the bidding process for the right to host the jamboree.

Hilton is owned by private equity giant Blackstone. The buyout group is looking to sell or float the chain and its growth in Asia may prove crucial to a good price.