I read a few articles for you. I like this one as a place to start from:

https://polstontax.com/holiday-party-deduction-guide/

In the past, when I worked for a high end architectural firm, we rented two pontoon boats and took all staff out on a large lake and toured some of our projects, as well as our competitors' and some under construction. This lake is 2-4 hours from all of our residences. We had lunch catered on an island, and hired two boat captains.

From there, we went to a lakefront conference center to which spouses/family had been invited, and some subcontractors and clients. There was a bit of "show and tell" and then the evening was the entertainment part.

Another sticky topic is gifts. The next day we gave out the bonuses and "achievement and safety awards." We had a high-end contractor who gives out western wear (think pricey hats and boots, gloves and belts), but the projects we worked on together were never less than multi-million $ log homes and clubhouses and "cabins." If nothing else, I always took home nice barware or some small electronic gadget.

Example: https://www.thebalancemoney.com/giving-employee-awards-know-the-tax-implications-398965

These articles are nice because it helps if you break down the costs and event stages, and treat each appropriately.

I hope that gives some perspective. Glad our economy is supporting these things, again.