I work for an F500 company that, officially at least, has an all Y travel policy for everyone.
The rest of the travel policy is reasonable - i.e. you can usually stay at a decent hotel and eat well either in the hotel or in a decent restaurant. Some managers like to impose their own less generous version of the official travel policy, though that's something I would fight tooth and nail over.
I would never take another job without asking to see the travel policy first. It tells you a lot about the company you're about to join.