A hot site is a fully operational offsite data center that is equipped with the necessary hardware and software to take over operation immediately without any significant delay. In the scenario described, the company needs a rapid failover solution to ensure high availability and minimal data loss, which is precisely the purpose of a hot site. This site typically runs in parallel with the primary site, offering the quickest recovery time. A warm site would require some time to become operational, thus failing to meet the rapid failover requirement. A cold site would need significant setup time and therefore would not suit the requirement for minimal downtime. Lastly, cloud storage refers to data storage and does not encompass the broader operational capabilities needed for an immediate failover in the event of a disaster.