1. A method for managing requests for resources, comprising: negotiating, by a hypervisor, to reserve at least one available local resource in a host system that meets at least one performance parameter for at least one resource specified in a reservation request by a particular logical partition from among one or more logical partitions of virtualized pools of resources managed by the hypervisor in the host system, wherein the at least one performance parameter is initially specified in a resource request by a particular application initiating the reservation request from the particular logical partition, wherein the particular logical partition receives the resource request from the particular application through a negotiation interface of an operating system of the particular logical partition, formats the resource request into the reservation request for the hypervisor, records the reservation request by a requesting application identifier of the particular application in an outgoing request table, and submits the reservation request to the hypervisor; responsive to determining that the at least one available local resource is available in the host system, reserving, by the hypervisor, the at least one available local resource for use by the particular application in the particular logical partition and returning, by the hypervisor, to the particular logical partition through the negotiation interface, a response that the reservation request is granted; and responsive to determining that the at least one available local resource is not available in the host system, negotiating, by the hypervisor for offers to migrate the particular logical partition to at least one other host system comprising at least one available remote resource that meets the at least one performance parameter, wherein the at least one other host system is managed by at least one other hypervisor that manages one or more other logical partitions of virtualized pools of resources.