I did both. My power runs down from the ceiling into an outlet box attached to one of the 4 posts. I then plug the lift motor into the outlet on the post. You could unplug it here if you desired. I did it this way so I could plug a 240v arc welder or another tool into the outlet box if required.
I did almost the same thing for the exact same reason.
My double wide hoist sits
darned close to a wall. So, I ran the power from the ceiling, down that wall, and into an outlet box mounted
on that wall. Rather than let the hoist's factory power cord simply lie on the floor, however, I chose to run it from the
top of the 'control/motor/fluid tank' post, thru a hook on the wall, and then
down to the outlet box from there. It's completely out of the way.
The power for my 115 v single car hoist is supplied via a dedicated outlet mounted on the ceiling directly above the post that holds the control/motor/fluid tank. The power cord from that hoist is
also looped thru a hook (near the outlet box on the ceiling)...but, that was done just to keep the weight of the cord from 'unplugging' the hoist. There'll never be a need to access
that outlet to power anything else since there are 4-plug 115 v outlets located e-v-e-r-y-w-h-e-r-e along the walls of the shop.