It depends on the year. Sometimes we travel and others we just stay home. We took our big trip in February instead of Spring Break. Yes, we did ask the teacher before we booked. The school said it was "educational" so they said it was ok.
We took an 11 day cruise in the Med. (Greece, Cyprus, Egypt and Israel.) We just relaxed our Spring Break away this year. We took a few days to visit family in the state next door. That was it. DH stayed home and worked while DD and I played.