Yes, the built in Sessions function allows you to create separate 'Tracks' that still appear on attendee schedules but do not block any of their own meeting times unless they sign up. Once they have signed up for a Session, the system will remind them of it near the time and block out any times on their schedule during the Session. Multiple tracks can be created for different needs, such as one track for sponsors with their own allocated time at your event, with another track containing times for speakers that may be at your event.
To learn more about creating Sessions and Tracks, visit this article.