We normally meet once a year to work and have fun together in some nice spot. This is a very enrichening experience for everyone. So far, we've met in cities like Tenerife, Malaga, Porto, Split and Paphos.
Some teams need to have more fixed schedules especially if working in support. But some roles allow more flexibility, like developer or marketing roles. As long as you're present for all your relevant meetings and deliver what is expected, you can arrange your working hours as you find it most convenient.