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What service is the VM Hosting ? (Web Server, DHCP Server, DNS)
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What service is the VM Hosting ? (Web Server, DHCP Server, DNS)

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No services. Just as a VM Server.
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Is the CPU increase occurring during a specific time interval or occurs randomly ?
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Is the CPU increase occurring during a specific time interval or occurs randomly ?

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The CPU increase happens always for the first 4-5 hours after I moved a VM from one VM Host to another. 
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The CPU increase happens always for the first 4-5 hours after I moved a VM from one VM Host to another.

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Any specific reason for moving the VM ? Are you moving it regularly ?
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Any specific reason for moving the VM ? Are you moving it regularly ?

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...generally upgrading the box specs<br />
...do it for different clients
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...generally upgrading the box specs
...do it for different clients

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What does the Task Manager show when you check it during this CPU spike ?
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What does the Task Manager show when you check it during this CPU spike ?

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...the usual, none of the ones listed are allocating that CPU continuous spike<br />
<br />
Note: it's the VM that hits 100% CPU, not the VM Host
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...the usual, none of the ones listed are allocating that CPU continuous spike

Note: it's the VM that hits 100% CPU, not the VM Host

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Whether any kind of Security software is running ?
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Whether any kind of Security software is running ?

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<div class="content wysiwyg-content">
After moving a VM from one VM Server to another, it has been the case always that for at least 4 hours after the CPU hits 100%, and then goes back to normality.<br />
<br />
Is there a reconfiguration process running in the background? <br />
<br />
HOST: W2K3, 4GB RAM, RAID 5, 300GB 15K RPM, etc<br />
VM: W2K3, 3GB RAM, 12OGB, etc
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After moving a VM from one VM Server to another, it has been the case always that for at least 4 hours after the CPU hits 100%, and then goes back to normality.

Is there a reconfiguration process running in the background? 

HOST: W2K3, 4GB RAM, RAID 5, 300GB 15K RPM, etc
VM: W2K3, 3GB RAM, 12OGB, etc

vm slow performance

VMware, a software company founded in 1998,  was one of the first commercially successful companies to offer x86 virtualization. The storage company EMC purchased VMware in 1994. Dell Technologies acquired EMC in 2016. VMware’s parent company is now Dell Technologies.

VMware has many software products that run on desktops, Microsoft Windows, Linux, and macOS, which allows the virtualizing of the x86 architecture.  Its enterprise software hypervisor for servers, VMware vSphere Hypervisor (ESXi), is a bare-metal hypervisor that runs directly on the server hardware and does not require an additional underlying operating system.

VMware

Virtualization is the act of creating a virtual (rather than actual) version of something, including (but not limited to) a virtual computer hardware platform, operating system (OS), storage device, or computer network resources. Virtualization is usually the creation of a system that executes separate from the underlying hardware resources, or the creation of an entire desktop for systems located elsewhere, similar to thin clients.