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New York

Goldman Sachs employees required to stay at Embassy Suites

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To save money, Goldman Sachs Group employees visiting the company’s New York headquarters are now required to stay at the Embassy Suites Hotel in Lower Manhattan rather than the Ritz-Carlton. Goldman owns the Embassy Suites, a 463-room hotel near the future location of Goldman’s headquarters in Battery Park City. Bringing its own employees to the hotel has improved business there, a hotel employee told the Wall Street Journal. Goldman employees staying at the Embassy Suites get a corporate rate of $250 per night, compared to the $495 per night they paid at the downtown Ritz-Carlton or the $795 per night they sometimes paid at New York’s Plaza Athenee while meeting with Midtown clients.