Pleasant corner of market lacks hotel (4)
I believe the answer is:
nice
'pleasant' is the definition.
(I've seen this before)
'corner of market lacks hotel' is the wordplay.
'corner of market' becomes 'niche' (I've seen this before).
'lacks' suggests deleting specific letters.
'hotel' becomes 'h' (phonetic alphabet: alpha, bravo, charlie etc.).
'niche' with 'h' taken away is 'NICE'.
(Other definitions for nice that I've seen before include "Leading resort on the French Riviera" , "A pleasant French city? ( 4)" , "French resort; subtle" , "Portuguese river, a centre for port" , "French Mediterranean resort" .)