Rooms are the entities that users can make a booking for.
When adding a room, some of the information you enter (e.g. owner, location, photo and any custom fields) will be accessible and visible on the bookings page to other users.
The Room owner setting allows you to designate a classroombookings user as the owner of that room. This gives the user the special permission of being able to delete other user's bookings in their room.
If you wish to highlight certain features of the rooms, you can do this using the custom fields section. Common uses for these are things like room capacity, number of computers available, or whether it has certain equipment such as printers or projectors.