When you have small kids, the existence of izakaya with private rooms is appreciated.
Koichi's been living in a shared house without his own room for more than five years now.
I reserved a private room for our year-end party.
An individual room just for you is your own private room. How nice!
This is a jukugo word, which usually means on'yomi readings from the kanji. If you know the readings of your kanji you'll know how to read this as well.