I would check to make sure that the KVM guests are provisioned so that they're able to make use of all the host's resources (CPU, RAM, etc.). Typically KVM guests are only allocated say 1-2 CPUs (cores) on a system that may contain many more.
This would mean you're not comparing the exact same thing when looking at the host's resources vs. the internals of a given KVM guest.
For example
The host has the following:
$ lscpu
Architecture: x86_64
CPU op-mode(s): 32-bit, 64-bit
Byte Order: Little Endian
CPU(s): 12
On-line CPU(s) list: 0-11
Thread(s) per core: 2
Core(s) per socket: 6
CPU socket(s): 1
NUMA node(s): 1
Vendor ID: GenuineIntel
CPU family: 6
Model: 45
Stepping: 7
CPU MHz: 1200.000
BogoMIPS: 6404.04
Virtualization: VT-x
L1d cache: 32K
L1i cache: 32K
L2 cache: 256K
L3 cache: 12288K
NUMA node0 CPU(s): 0-11
While one of the KVM guests has this:
$ lscpu
Architecture: x86_64
CPU op-mode(s): 32-bit, 64-bit
Byte Order: Little Endian
CPU(s): 1
On-line CPU(s) list: 0
Thread(s) per core: 1
Core(s) per socket: 1
CPU socket(s): 1
NUMA node(s): 1
Vendor ID: GenuineIntel
CPU family: 6
Model: 6
Stepping: 3
CPU MHz: 3202.024
BogoMIPS: 6404.04
Hypervisor vendor: KVM
Virtualization type: full
L1d cache: 32K
L1i cache: 32K
L2 cache: 4096K
NUMA node0 CPU(s): 0