I have been in that situation. Vacations make everything much worse. CEOs have a habit of facing their problems up front. A vacation runs opposite to that instinct.
In the end it feels like you just wasted a lot of money and time running away from problems.
I would agree that going for a vacation to run away from things can make things worse.
However, if one can decide to go for a vacation to get a fresh perspective on the issue, I think that would help. Getting to a place where there are no interruptions expected may help you doing that if that is your intent.
Being in the office may keep you doing the daily firefighting and you may need space to think differently.
In the end it feels like you just wasted a lot of money and time running away from problems.