Hours in pleasant alcove (5)
I believe the answer is:
niche
'alcove' is the definition.
(I've seen this in another clue)
'hours in pleasant' is the wordplay.
'hours' becomes 'h'.
'in' is an insertion indicator.
'pleasant' becomes 'nice' (similar in meaning).
'h' going inside 'nice' is 'NICHE'.
(Other definitions for niche that I've seen before include "Suitable position (in market, life etc)" , "Place that's cosy" , "Recess - suitable position" , "Suitable spot" , "Select place in market" .)