It can be done, but it's way more than can be answered in a free forum. There is no single place to start other than to start with detailed requirements. Plus, you must have the SharePoint version decided along with the version of Office you'll
have, the server architecture, and development staff capabilities. It could possibly be done with just basic SharePoint Foundation using basic lists and codeless SharePoint Designer 2010 workflows, or it may need InfoPath, or it may need custom code.
It's just way too broad of a question and would require developing an actual application (may or may not require code), which is why I say it's way more than can be answered on a public discussion forum.
There is a Room Equipment and Reservation site template in the Fab40 package that was created for 2007, but Microsoft did not release these for 2010. Some private individuals have converted some of these templates for 2010 usage, but there
is no guarantee of functionality or reliability. However, even if you don't use it for real, you could probably learn from it quickly before making a decision to invest in this direction.
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