Hosting space is a set of resources (or services); its a virtual "piece" of hosting environment where hosting items like domains, websites, mail accounts and others can be created.
Hosting space is determined by the hosting plan which dictates where hosting resources are located (on which servers) and how much of them are allocated (hosting plan quotas).
There might be more than one hosting space under your account. You could see the list of hosting spaces on the user account home page:
Click a link with hosting space name to open Hosting Space home page:
On the left pane of the page there is a menu with available hosting space resources. On the right pane there are hosting space details and action links.
Central pane contains hosting space quotas overview with disk space and bandwidth meters and space notes block.