Definition of admittedly adverb from the Oxford Advanced Learner's Dictionary

 

admittedly

 adverb
adverb
BrE BrE//ədˈmɪtɪdli//
 
; NAmE NAmE//ədˈmɪtɪdli//
 
 
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used, especially at the beginning of a sentence, when you are accepting that something is true Admittedly, it is rather expensive but you don't need to use much. Admittedly, Venice wasn’t a very big place, but there was little chance of meeting her again accidentally.
See the Oxford Advanced American Dictionary entry: admittedly