Next generation communication networks will be required to support many multimedia services including voice, video and data. Since, bandwidth is an extremely valuable and scarce resource in multimedia networks, efficient bandwidth management is necessary in order to provide high quality service to users. Some applications need bandwidth reservations at an earlier time so that desired QoS requirement could ben ensured in the future. In this paper, we propose a new bandwidth management algorithm for advance reservation. The main design principle underlying our algorithm is adaptive online control based on real time estimation. This online approach is dynamic and flexible that responds to current network conditions. Therefore, our scheme is able to resolve conflicting QoS requirements while ensuring efficient network peformance. With a simulation study, we demonstrate the excellent performance of our scheme under widely diverse traffic load intensities.