A hotspot is an active field within your panorama. It can trigger various actions (usually when the viewer clicks on it), such as opening a new panorama (e.g. go to the adjacent room), playing video or audio, opening an info window, opening a URL and many more. Hotspots are indispensable for linking two or more panoramas (e.g. going from one to the next room).
First, you need to select one of the three hotspot display types: A Polygon allows you to paint in your panorama. Text allows you to enter text as the active field (for audience to click on). And lastly, you can import a picture to place as the hotspot in your panorama.