No longer owns hotel east of Panama? (4)
I believe the answer is:
hath
'no longer owns' is the definition.
(historic form of 'has', ie 'owns')
'hotel east of panama?' is the wordplay.
'hotel' becomes 'h' (phonetic alphabet: alpha, bravo, charlie etc.).
'east of' says to put letters next to each other.
'panama?' becomes 'hat' (panama is a kind of hat).
'h' after 'hat' is 'HATH'.
(Other definitions for hath that I've seen before include "'The moon . . . . raised her lamp above' (The Lily of Killarney)" , "Has in an old-fashioned way" , "Has old" .)