I searched high and low for a system to rent out holiday villas, after a long, unsuccesful search I finally found Jomres, now I'll never use anything else. This system does everything I wanted it to do and even gave me the ability to do more than I expected.
Packed full of features yet still smooth running and easy to learn. It's a snap to modify the source to suit your needs and to tweek the design to suit your own site and if you ever have any problems Vince (developer) is always there to help. The support you get from him is amazing, you can tell he really cares about his creation, which is great for the user as improvements are constantly being made. Every support ticket I have submitted has been answered within a couple of hours and Vince has never let me down yet.
If your looking for a professional reservation/booking system then you've found it, your wasting your time looking further.