From RHV 3.3 there is a API set for third-party tools that offer backup, restore, and replication.
For backup, a snapshot of a virtual machines disk is created then attached to a virtual appliance. For restore, disks are attached to a virtual appliance, the data is restored to the disks, then the disks are attached to a virtual machine.
Tools are from enterprise companies such as Tintri, Acronis, Symantec, etc. From RHV 3.3 there is configuration support for add/edit/delete storage connections to enable multi-pathing, hardware changes, simpler failover to remote sites, and array-based replication.

RHV-M 3.5 fully supports Acronis Backup & Recovery that provides image-based backup, disaster recovery (recover the whole VM) and data protection (recover selected files).
This is a Fee-based Add-On; Details - http://marketplace.redhat.com/RHV/10085-Acronis-Backup-Recovery-11-5-Virtual-Edition-for-RHV-11-5