Uhm, no. I assure you the powers-that-be in my firm would totally lose their marbles if highly reserved data were crossing out into some web-app hosted who-knows-where and viewable by who-knows-who.
Still, again, as a power user... native applications are hard to beat.
‘Hosted’, to me at least, means that you’ve got an augmented web server somewhere on your intranet that you connect to, and that displays its interface through a browser on the user’s machine.
The two terms are mutually exclusive, in my understanding (except of course when one is speaking explicitly of “hosting a web server”, but I’m sure you catch my drift).