Everybody's chasing hotel room (4)
I believe the answer is:
hall
'room' is the definition.
(hall is a kind of room)
'everybody's chasing hotel' is the wordplay.
'everybody' becomes 'all' (I've seen this before).
'chasing' is a charade indicator (letters next to each other).
'hotel' becomes 'h' (phonetic alphabet: alpha, bravo, charlie etc.).
'all' after 'h' is 'HALL'.
(Other definitions for hall that I've seen before include "Large meeting room" , "See 1" , "Large house (linked to Dotheboys, Wildfell and Toad)" , "College dining room" , "Chamber" .)