Hotel reportedly modern (3)
I believe the answer is:
inn
'hotel' is the definition.
(inn is a kind of hotel)
'reportedly modern' is the wordplay.
'reportedly' shows a homophone (sound like).
'modern' becomes 'in' (I've seen this in other clues).
'in' is a homophone of 'INN'.
(Other definitions for inn that I've seen before include "Roadhouse" , "It provides rest for the traveller" , ". . . of the Sixth Happiness (film)" , "watering hole" , "Old hostelry for travellers" .)