Hosted network is a feature of Windows 8 using which you can turn a computer with a network connection into a wireless hotspot. For example, this can be used to convert a notebook with wired internet connection into a wireless hotspot for other wireless devices like smartphones, tablets or other notebooks. The steps to create such a wireless hotspot are described here.
Sometimes, you may find that your other devices can connect to the hosted network, but cannot get internet access.
This can be fixed by checking for two services:
Right-click on Internet Connection Sharing service. Change its Startup Style to Automatic. Start the service.
Right-click on Routing and Remote Access service. Change its Startup Style to Automatic. Start the service.
You should have internet access on the devices connected to your wireless hotspot now.
Tried with: Windows 8.1 x64