Deleting a hotlist is really simple:
Note: Only an account owner can delete the hotlists created.
First, Click on the "Quick View" button on the top left of the screen.
If you are viewing candidates, you will see candidates hotlist and so on for Contacts or Jobs. .
Then click on the "View/Rename Candidate Hotlists" button
You can then Edit and delete any hotlist you want:
Hope this helped :)