Multimedia traffic and real-time e-commerce applications can experience quality degradation in traditional networks such as the Internet. These difficulties can be overcome in networks which feature dynamically set up paths with bandwidth and delay guarantees. The problem of selecting such constrained paths is the task of Quality of Service (QoS) routing. Researchers have proposed several ways of implementing QoS routing, preferring either mechanisms which distribute the network load or algorithms which conserve resources. Our previous studies have shown that network connectivity is an important factor when deciding which of these two approaches gives the best performance. In this paper we propose an algorithm, which features both load distribution and resource conservation. It takes a hybrid approach which balances between these two extreme approaches, according to the level of network connectivity. Our simulations indicate that this algorithm offers excellent performance over a wider range of network topologies than existing algorithms.