Goldman Sachs employees required to stay at Embassy Suites

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.