Before my time, IBM regularly held a WebSphere Services Technical Conference (WSTC) in Las Vegas and annually flew in a big portion of the team for a week to learn about the hottest features. I am sure my colleagues learned a lot, but the stories I am told these days about those days also go beyond and usually start with someone getting lost on The Strip at 3am.
It probably doesn't have to be that expensive though. I would assume that renting a house wouldn't take away too much from the experience and benefits but would be significantly cheaper (we had a house which could easily fit up to eight people at the ocean, 60km away from Venice in Italy for 500EUR/week). When the team is right, doing simple stuff such as cooking together can be quite fun and bonding.
A related approach: Designer Stefan Sagmeister gives up some of his retirement years and instead takes a one year 'creative break' every seven years. Here's his TED talk:
http://www.ted.com/talks/stefan_sagmeister_the_power_of_time...