Thank you for your response.  What module would be ideal for handling room bookings? Calender ? or Rentals? or Planner?

ODOO can definitely be used to manage a service like the one you described.
However, if you need any extra features built specifically for your business, it might require some extra development work, meaning extra costs.
On the long run, It's worth the value on my opinion. My company has created solutions like that.

Here are some ready to use ODOO features: 
 - Sales *products and services
 - Human Resources (Accounting, Management, Timesheets, Payroll)
 - Restaurant and POS
 - Inventory
 - ... and more