To add a location, click Studio set-up > Locations > Add location

Name it, choose if it will be a physical location -- a location with an address. Or a room/space within a physical location.

If you choose to create a room/space, you'll be prompted to select the physical location its a part of -- it's parent location.

If you use ClassPass, see Additional Settings and choose the location's time zone for ClassPass. If you don't use class pass, leave this field blank.

After clicking Create, this location will now be available to assign to Appointment Boards.

And selectable when scheduling Classes.