Since routing for host-routed VPS is done at the hypervisor level, the static route has to be added to hypervisor.
Assuming that the hypervisor interface eth0/IP1 and the IP_GW is the IP of the destination
# ip route add A.B.C.D/N via IP_GW dev eth0
In order to make this permanent we create the following file and restart the network service
/etc/sysconfig/network-scripts/route-eth0
and add this line to the file /etc/sysconfig/network-scripts/route-eth0
A.B.C.D/N via IP_GW