For most people who are hosting websites an OpenVZ serer is probably best, especially if your are not too hardware savvy.
Your host can change CPU (cores and %), RAM, Swap & Disk that your VPS has on the fly without any downtime should you need to upgrade or downgrade. (No reboot, no downtime).
OpenVZ can host many many OSs with virtually no overhead, each KVM server needs more memory to achieve the same thing as it will have it's own Kernel and Kernel space.
OpenVZ and KVM both share resources, if anyone tells you otherwise they down understand the technology.
You can have a 1CPU laptop running 4 KVMs or 4 OpenVZs. How OpenVZ is sharing resources, but KVM is not is beyond me.
What can happen however, in the OpenVZ world, is that if you have an unscrupulous host, they can allocate you more memory and diskspace in total than the server can provide. This is more like the shared hosting model, where most users will purchase more than they use.
This if managed correctly, can be of benefit, as it much reduces the cost of providing the VM to the end user, however if not managed correctly, a miserable experience can be had by the VM's users.
Again KVMs have their full disk space available to them, whereas with OpenVZ if the host is overselling, users may find that they can't use all of their allocated space. However, if KVM users want to change the amount of space on their VMs they are in for a more tricky time.
The only real issue with openvz is that you have to run the kernel provided by the host, you cannot change this, so if you want to run CloudLinux (full) or Atomic Linux kernels you are out of luck.
In summary, if your host is not likely to be overselling, then you will probably get much better performance out of OpenVZ.
However, if you really want to "own" all of your resources and work more like a real dedicated server KVM may be for you.