And it won't be a cut rate or discounted taxable amount. DW won a DL trip (3 nights GC, airfare for 4, park hoppers for 4, airport transfers, some disney dollars, some disney food credit) a year and a half ago and the tax submitted by the prize company to the IRS was $4,000. We estimated that our actual cost for the same vacation would have been around $3,000. But they probably use a standard air and hotel cost vs. what the actual rates are. The trips around the world are probably going to ring up over a $25,000 W-2.
Not that I'm complaining. I'd take our "free" trip and the $750 it probably cost us in taxes any day. I wouldn't even squawk about the $4,000 - $5,000 tax bill that's coming from the round the world trip.