I work for a luxury tour operator (Travelbeam Luxury Hotels) and we specialise in family holidays in Europe. We find the Pine Cliffs Residence (stunning 2and 3 bedroom apartments) at Sheraton Algarve in Portugal work out pretty good value for large famillies. The 2 bedroom apartment sleep 6 and you also have a washing machine and fully equipped kitchen so you can self-cater to keep the costs down.