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KVM, due to the literal emulation of an actual dedicated server (~3% performance difference to a dedicated server), and OpenVZ for testing things.
Xen? No, I don't like the performance loss and the balloon drivers.
For hosting just a simple web site and if the provider is trusted enough, openvz has better performance with the same specs. Also, for simple not critical tasks that are working in a jailed system as openvz, it could be fine.
For more demanding projects, web sites that need to focus on security etc. then, KVM is the choice.
both of them