I'm thinking of cancelling my plans to go on an overseas trip with my friends just because I don't feel like it
What do  you want to do instead of going on a trip?
I just feel like spending the holidays alone this year.
It is okay to change your mind about going on a trip, but you should let them know early so that they can make alternate plans. Otherwise they will be upset especially if it cost them a lot of additional money.
I'm not in the mood to go through all that hassle. I'm just going to cancel.
It doesn't take much effort to let them know as soon as possible. The moment you change your mind, then give your friends a heads up. If they incur any costs from your cancellation, you should offer to cover it for them.