1ST MEANING If you hold a party at your house, you are the 'host.' You will entertain your guests, provide them with refreshments, and accommodate their needs. In this sense, 'entertain' them, doesn't necessarily mean you will sing and dance and tell jokes (but you could if you wanted), it just means you will provide a setting for them to talk, enjoy, be friendly with each other. When we say, I'm entertaining guests tonight, it just means you're having people over to your place and you are responsible for the setting. When you are 'entertaining guests' you don't even need to have them over to your house, you can take them out to a restaurant. For example, we say, I'm entertaining clients from out of town tonight, which would mean, you're taking your clients out to dinner and then showing them around the town (bars, clubs, theater, nightlife). 2ND MEANING Host a TV show - in this case, you are directly providing the entertainment by your commentary, interviews, discussion, actions, etc. You need to think of the words 'host' and 'to entertain' more broadly. But short answer, Yes, host does have the meaning of to entertain.