“Places” is a custom post type created by the QT Places plugin, which comes in bundle with the theme.
Places are basically “venues” and they can be associated to the events to create event maps. You can optionally create simple “places” maps to dispay any tipe of geolocated content.
This plugin is very powerful and allows you to create maps of every type of content, even simple posts.
Important: this plugins requires Google Maps API Keys, visit Settings > QT Places and follow the instructions.
To udnerstand how it works, please check its own documentation, download the PDF manual of QT Places here.
Official plugin page link.