i think ..it depends .. one of the important factor would be capacity of the host, you can have as many below maximum limit. if you have hosts with 96GB RAM and 8 CPUs ... if you are having biggers VMs like 16 vcpus see how much that VM is going to consume ..for example if it consumes 90% then its not good as it can eat the much part of the hosts computing power. Then definitely consolidation ratio will be less.. another factors are what is the real target ..to achieve consolidation ratio or to virtualize the server etc..there are various documents available which you can refer for capacity planning..
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