And if it's in too exotic a location, it's probably not super-convenient to get to and it also probably screams boondoggle to the managers who have to approve the trip.

When I was an analyst we really didn't much care for when a company would put on an event at some desert resort a lot of the time (around Phoenix was generally OK--if in winter). Even with them picking up a lot of expenses, it still cost us money out of pocket and it invariably took a good additional day out of out schedules relative to just having it in San Francisco.