What do we mean when we say that a black hole is like a hole in spacetime?
It is a misnomer to call it a "hole" in spacetime.
A black hole absorbs all incident radiation and it represents a singularity, which actually means that the laws of physics as we know them cease to hold when we visualize them. There exists a radius called as the event horizon where time dilation is infinite, implying that time cannot be quantified here and the incident photons simply "disappear". This not sci-fi but a caveat of Einsteins theory of relativity and tells us that we are approaching the barriers of quantifiable science. A black hole is essentially not a "hole" essentially, more an iota that encapsulates a "Time warp".