Hubby and I have an agreement....we will do what we NEED to do and what works for OUR family at ALL times. IF we can accommodate our relatives and friends we will try our best, but if we can't, then we won't. THE most important thing, especially when it comes to holidays is that we (meaning hubby, myself, and two kids) are together and having fun. Wherever WE decide to spend each holiday, others are welcome to come, but they are responsible for getting themselves there and taking care off their own arrangements.
Hubby's parents and sis live on the East Coast. He has some relatives that live near us and some that still live in S. Dakota. My parents and sis live 1.5 hours from us and I have relatives scattered all over the place.
I usually do Thanksgiving at our house for whatever family and friends want to come down. Day After Thanksgiving I go Black Friday shopping with my best friend, Mom and sister (if they are here).
Christmas Eve dinner is at hubby's Aunt and Uncles (they live about 30 mins from us). Sometimes my parents and sis meet us there, sometimes they have their own Christmas Eve plans.
But Christmas morning we are at home doing our own family traditions. We basically are in our PJ's all day long, opening presents, watching Christmas movies/cartoons, having leftovers and breakfast all day long. Again, everyone is welcome to come over and spend the day with us, but beware, I will not be catering like I normally do, it's self serve day, and I will be in my PJ's with my hair all a mess. Sometimes my parents and sis are with us, sometimes my best friend and her family come over, sometimes it's just the 4 of us.
Now for your situation, maybe you and hubby can come up with an alternating schedule. Every other year you spend Thanksgiving with your family, then Channukah with his. Then the next year you spend Thanksgiving with his family and Christmas with yours.
But whatever you decide to do, make sure it does not put any undo stress on you or your family (meaning hubby and kids), that you can afford it, and that you WANT to do it. If for whatever reason you can't afford to travel or don't want to spend that time with that particular relative, DON'T. And there is no need to feel guilty about your decision if you are doing what you and hubby feel is best for your family and situation. If others can't understand that you are trying to be fair and do what is best for your family, that's their problem. And yes, there will be hurt feelings, but that is their problem, not yours.
I used to get the hurt feelings/guilt from my in-laws about not going to the EC for the holidays. We always invite them to come out here to spend time with us and the grandkids. We even offer to pay for their flights. THen hubby set them straight. Hello, it costs WAAAYYYY more for us as a family of 4 then for 2 of them to travel out here. And it's way more stressful for us to travel with a 4 and 2 year old (so a 3 and 1 year old last year, then a 2 and infant the year before),then it is for them to just hop on a plane by themselves. Especially during the crazy holiday season. Plus since we all are allergic to cats, we can't stay at my inlaws because they have a cat. So that would cause even more hurt feelings on their part. And even more expense on ours having to pay for a hotel. And not that I would expect this, but since we have offered and have paid for them to come out twice, it would be nice for them to offer to help us pay for our trip if they really want to see us that bad instead of guilt tripping us.
So because of all this, hubby and I came up with our Family Policy where we do what we need to do for our family and put others second and try not to feel guilty about it. And once we let my parents and especially his parents know that we will be sticking to our policy no matter what, at least hubby and I don't feel the stress anymore. We still get the guilt trip, but we've learned to let it go and just focus on having fun with our kids wherever we are.