We used to host 16+ at Christmas. I found that it really helped to think about why we did it, even though the thanks and appreciation were quite paltry. These were the reasons:
Our kids loved having their cousins around.
DH enjoyed spending time with siblings.
ILs were not able to manage it. The last few Christmases at theirs were awful (MIL got het up, and it caused an atmosphere) and the food was terrible.
Our house was just about big enough - other family lived several hours drive distant and had to stay (not with us).
Single close friends would have been alone. (They were always very thankful and appreciated the invite).
Our house, our traditions! We had control - that was a big one because of sen child.
We never did a traditional Christmas dinner on the day - canapés (pigs in blankets, smoked salmon pinwheels, vol au vents etc), cold poached salmon with a variety of salad vegetables (separate bowls, so children don't fish around for the bits they like), cut apple and grapes (kids again), coleslaw, potato salad, prawns, cheese, baguettes. Followed by chocolate log, Christmas pudding, mince pies, ice cream and hot sweet white sauce. Everyone stuffed to a standstill by the end!
DH did most of the cooking on Christmas Eve, I did all the organising (I am the Queen of lists). If it were just me, I probably would have been very resentful, but between us it worked. It was a lot of work, but we always said that our personal Christmas started on Boxing Day when we did nothing and ate leftovers when we felt like it!