Trendy hotel — one with parking (3)
I believe the answer is:
hip
'trendy' is the definition.
(both can mean fashionable)
'hotel one with parking' is the wordplay.
'hotel' becomes 'h' (phonetic alphabet).
'one' becomes 'i' (Roman numeral).
'with' means one lot of letters go next to another.
'parking' becomes 'p' (abbreviation on road signs).
'h'+'i'+'p'='HIP'
(Other definitions for hip that I've seen before include "In slang, trendy or stylish like body joint" , "Haunch" , "Fruit of a rose plant" , "Trendy or stylish, like fruit of the wild rose" , "Following trends" .)