Virtual Private Servers (VPS) are the most advanced type of server virtualization technology. They are used to partition a single physical server into isolated virtual private servers. Each Virtual Private Server looks and behaves exactly like a real networked server system, complete with its own set of init scripts, users, processes, file systems, etc.
Hyper-V, formerly known as Windows Server Virtualization is a native hypervisor. It can create virtual machines on x86-64 systems. Starting with Windows 8, Hyper-V supersedes Windows Virtual PC as the hardware virtualization component of the client editions of Windows NT.
A host server running Hyper-V could be accessed remotely by multiple guest computers. Each guest computer could perform as if they are using the host server directly. Users on the guest computers could run applications in the host server remotely, even though that application is not available on the guest computer.