Conversion is easy, you convert it to a chopped DC and use a transformer, then rectify it again and send down the line. At high power you tend to use the good old fashioned SCR stacks, using a set of 6 banks ( 3 phases in star, 3 in delta to get the 30 degree phase angle so you reduce ripple), each with their own commutation stack. Then you simply use a large LC filter on the output and send it out as low ripple DC. Incoming again you use the SCR banks and the same transformers and LC tanks, and the same transformers with delta and Y windings. That way you can have a bidirectional power transfer, with the one side acting as either a synchronous rectifier or a power switching stage, using identical stages each side.
Efficiency can easily go over 90% at full load, helped as well by the line losses being lower as there is no inductive effects and skin current with DC, plus the extra 30% more power transmission available on the same line over AC, along with only needing a single conductor with earth return, or just a pair of conductors.
And in any case, your typical vacuum cleaner, which uses an universal motor, will quite happily run on either AC or DC.