I work for a multinational and I am not an exec.
Policy for them is to fly first inside Us or Biz in Europe - I see a lot of Concorde discount tickets flying around my desk and I am always unable to grab one!!!
For me, sloooowly rising on the ladder the policy is economy no matter where.
What happens is that finance has to read economy on the ticket, so I can buy an unrestricted economy which most of the times is automatically upgraded to discounted biz ( and this thanks to a great travel agent which knows our needs).
We are free to choose airlines and routings as much as we meet appointements on time.
On leisure I fly biz, for passion, and I pay the fare. It is my private luxury.
as for hotels are concerned, we are able to stay wherever we please as much as we don't exceed 300 USD per night ( if more they question, if you have a good explanation for the choice then it is ok) but for tokyo where we go up to 500 USD per night.
My bosses, well, no cap and no limit.
I am sure that by the time I'll get there ( If I do...) they will chop those privileges...