City hosting the annual Masters Tournament (7)
I believe the answer is:
augusta
'city hosting the annual masters tournament' is the definition.
(always held at the Augusta National Golf Club)
This is all the clue.
(Other definitions for augusta that I've seen before include "Masters course" , "Scene of annual US" , "American city" , "City of Georgia" , "Algernon's aunt (Importance of Being Earnest)" .)