The first works in BrE. The second doesn't because we don't use the phrase "the holidays" in this way. It's used extensively in AmE. I know that we're about to enter "the holidays" which consist of Christmas and New Year. If the same question were to be asked in BrE, it would be something like "Are you spending Christmas in LA?" or "Are you spending the Christmas holidays in LA?" We just don't abbreviate any of the annual breaks to "the holidays".