Question regarding hotspot and masquerade/NAT

Does a hotspot need to be masqueraded? I have a RB750 one port is configured with subnet 192.168.1.* and other port is configured with 172.16.., I then have an upstream router as my head-end router which connects to the internet, 172.16.1.254.

What I have at the moment is my hotspot on 192.168.1., which is masquerading to 172.16..*. Will my hotspot work if I change this to be route-able instead of masqueraded?

Yes. I use that exclusively. During the hotspot setup, it asks if you want to masquerade the network. The default is yes. I change that to no.