Locations can be specified by:
*GPS - go to the place you want, and save it
The map has a limited memory and remembers one previously saved location. Thus if you go between the same two locations several times (eg. hotel and meeting place), you can switch between these two locations without having to type in the address, locate the position in the map or go to the place to use GPS for saving, again.
NOTE: this is a first BETA. Only tested on Nexus 6 so far, and the German and Dutch texts are generated by Google translate. Corrections are welcome - as well as info on how this works on other phones.