FAM is short for "familiarization" which is travel offered to travel professionals at a reduced rate so they can inspect hotels and restaurants, sample the attractions, and experience the local culture. This is one of the many "perks" available to travel industry personnel. Travel agencies offer these trips to their employees to help increase their knowledge so they can share that knowledge with their clients. Most travel agencies have a "FAM" policy but you should find that most agencies will allow their agents to attend one FAM trip a year. If you work as a home-based travel agent, these FAM opportunities are also available to you. As the owner of your own company, you can participate in FAM trips throughout the year.