We consider a distributed server system consisting of a large number of servers, each with limited capacity on multiple resources (CPU, memory, disk, etc.). Jobs with different rewards arrive over time and require certain amounts of resources for the duration of their service. When a job arrives, the system must decide whether to admit it or reject it, and if admitted, in which server to schedule the job. The objective is to maximize the expected total reward received by the system. This problem is motivated by control of cloud computing clusters, in which, jobs are requests for Virtual Machines or Containers that reserve resources for various services, and rewards represent service priority of requests or price paid per time unit of service by clients. We study this problem in an asymptotic regime where the number of servers and jobs' arrival rates scale by a factor $L$, as $L$ becomes large. We propose a resource reservation policy that asymptotically achieves at least $1/2$, and under certain monotone property on jobs' rewards and resources, at least $1-1/e$ of the optimal expected reward. The policy automatically scales the number of VM slots for each job type as the demand changes, and decides in which servers the slots should be created in advance, without the knowledge of traffic rates. It effectively tracks a low-complexity greedy packing of existing jobs in the system while maintaining only a small number, $g(L)=ω(\log L)$, of reserved VM slots for high priority jobs that pack well.