S.R.
We just got back last week from a 2 week trip abroad with my 16 month old and 3 year old. The first day we arrived in the early AM, but had several more hours of local travel ahead of us, so they napped on and off whenever they needed to. We finally reached our hotel in the PM and they napped from about 10-12PM local time (I was hoping they would just sleep all night, but to no avail). They then were up until 2AM and then slept until noon or so the next morning. That was the tougest part for my husband and I, as we really didn't care to be awake at that hour after such a long trip and our own jet lag!
From there, we basically tried to keep them on their home schedule, which worked great for us. It meant they went to bed around midnight each night and then slept late in the morning, or as late as noon. That worked really well for us because we all went to bed at the same time at night and got at least 10 hours sleep every day, which is a miracle in itself. Also, we were in a Mediterranean country where our family eats dinner really late at night, so the late bedtime worked great. We did naps around 6pm (yes, sounds strange, but I swear it worked out). On the way back, we got back to Chicago at around 4pm and by the time we settled in at home and had dinner, the kids got to bed around 6:30 and slept until about 7 the next day, voila, they were back on schedule almost immediately. I wish I could say it was as easy for us old folks to adjust!
I have heard of people trying to adjust their kids to the local schedule right away, and for some people that might work okay. For us, however, we enjoyed being able to take our kids out for a stroll at night without having to worry about bedtimes or sitters. They did great and the time change didn't seem to affect them significantly, other than the intitial fatigue from travelling.