Pleasure-seeker's place concealing Yankee hostelry
I believe the answer is:
sybarite
'pleasure-seeker's' is the definition.
(thesaurus)
'place concealing yankee hostelry' is the wordplay.
'place' becomes 'site' (synonyms).
'concealing' indicates putting letters inside.
'yankee' becomes 'Y' (phonetic alphabet: alpha, bravo, charlie etc.).
'hostelry' becomes 'bar' (I've seen this before).
'y'+'bar'='ybar'
'site' placed around 'ybar' is 'SYBARITE'.
(Other definitions for sybarite that I've seen before include "Self-indulgent person" , "Hedonist" , "Lover of luxury" , "Person excessively fond of luxury and comfort" , "Epicure" .)