Hmm this is interesting. I have never thought about taking my Apple TV when I travel. If I'm on vacation do I really want to sit and watch TV? Not really, unless it is raining outside. It might be nice to stream some music from the hotel/condo TV but then I do travel with a speaker I can dock my iPhone to play music.
I guess if you have kids and have purchased a lot of movies/content from iTunes then it would make sense to bring the Apple TV to the hotel/condo to play the movies for the kids.
I only travel for business (no time for vacations), so having my AppleTV with me in my hotel room is fantastic! Usually, I can just hook it into whatever (crappy) flatscreen the hotel offers, and watch any of my content I like.
To be honest, though, I usually just watch on my iPad and my AppleTV stays in my laptop case