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Robert GranlundFlag for United States of America

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Best hosting for large online store

I'm assisting with the re-deployment of an online store that gets a few thousand visitors a day, lots of traffic.  The problem is, the current hosting seems to have issues.  We lose DB connection, slow performance, etc.  The store requires a dedicated server.  What are the best hosting options?  Should the hosting be cloud based?
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Paul MacDonald
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Without dismissing anything Martyn noted, Rackspace is a well-reputed hosting company.  

Full disclosure: I am not affiliated with Rackspace
is your database server on the same box as the web server?

Should the hosting be cloud based? it already is if using a hosting provider.--

There are several ranges of hosting from multiple shared to your own virtual machine (VPS). your own machine in a datacenter.

There also is the AWS/Azure/GCloud in which based upon performance metrics can spin up more machines to handle the load and once the load goes away, reduce the # of machines
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@Martyn, can you elaborate on "but clearly a scalable virtual device operating on higher specification equipment will operate more quickly".

I'm a developer and am not that fluent on the system administration side.  Thanks for clarifying and elaborating for me.
DYN dns plus aws hosting. a+ 2018 configuration.
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I have a few corporate clients (retail) that from black friday week until new years day that their website and database hosting ramps up to several hundreds of machines during this period.  For the rest of the year it sits at 1 sql server and 10 instances of the server
The same with various tax preparation agencies that also ramp up and down depending upon the load.

On a cost perception we've found Azure to be cheaper in the long run over AWS.  Google Cloud is very price competitive but not really a good fit at the present time. Bring your own license offered in Azure significantly reduced their costs.
The links got me to where I needed much faster than the other long winded answers.