Incidental overnight expenses are already covered by an exemption, please see here:
Expenses and benefits: incidental overnight expenses
The HMRC Benchmark Scale Rates can be used to cover subsitence (meals etc).
If the company is arranging and paying for the accomodation on behalf of the employees and it is deemed to be a genuine business cost, this would also be covered by an exemption.
You can find further information on exemptions here:
Expenses and benefits for employers
If you require further advice, please contact the Employers Helpline:
Employers: general enquiries