Visitor speculated, we hear (5)
I believe the answer is:
guest
'visitor' is the definition.
(someone visiting a place)
'speculated we hear' is the wordplay.
'speculated' becomes 'guessed' (guessing is a kind of speculating).
'we hear' indicates a 'sounds like' (homophone) clue.
'guessed' is a homophone of 'GUEST'.
(Other definitions for guest that I've seen before include "Visitant" , "Visitor, lodger" , "One receiving hospitality" , "Invitee" , "See 2" .)