Gist of thesis; hotels exempt judge (6)
I believe the answer is:
esteem
'judge' is the definition.
(I've seen this before)
I cannot understand how the rest of the clue works.
Can you help me to learn more?
(Other definitions for esteem that I've seen before include "Revere - prize" , "Honour - regard" , "gain respect" , "Hold in deference and respect" , "'Regard, respect (6)'" .)