Host managed small drink (4)
I believe the answer is:
shot
'small drink' is the definition.
(I've seen this in another clue)
'host managed' is the wordplay.
'managed' indicates anagramming the letters.
'host' anagrammed gives 'SHOT'.
(Other definitions for shot that I've seen before include "Fired or filmed" , "Hit by gun" , "Lead pellet" , "Photo; lead pellets" , "Small drink of spirits" .)