The term FAM stands for Familiarisation. The Tours - commonly known as FAM Trips - are trips organised by travel providers (can be a Tour Operator, an Airline, a Hotel Chain, a Tourism Board or other DMOs representing a Destination, etc.) with the purpose of educating about their products & services and promoting them.
Usually it is dedicated to everyone who is involved in the selling and promoting process of this particular product/ property/ destination. It typically hosts travel agents and expedients, travel media (writers, journalists, bloggers) and other important players & partners.
Creating awareness and at the same time networking and building relationships are the main aims of a FAM trip.
FAM´s are very important in the hospitality industry. Basically speaking if the travel agent knows and likes your property (and the location), he will book his clients into it. FAM´s are usually FOC (free of charge) or available at a discounted fee.