Outlook calendar - Is this possible?

One of our clients is asking for this from us, and so far I've been unable to make this work. They have Exchange 2013. Their outlook clients are a mix of 2013 and 2010:

Pulled from the ticket:

"They would like to utilize an Outlook calendar to track their "vacation time off".
If possible, they would like it to work as follows:
- Employee initiates a calendar event to the time off calendar and invites his/her manager.
- Manager goes to shared calendar and accepts employees time off request.
- Manager does not want the acceptance to go on their own Personal calendar – only on the vacation calendar
- All will have read capability.
- Managers only will have read/write capability.
- Employee are not allowed to request time off for “dates that are in the past”.
- Manager would like to be able to “view” all time off for that calendar event day(s) prior to accepting without having to go to the calendar.
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Randy PooleCommented:
If they want this, then your best bet would to be write a client in .net to interface with outlook or it can get very tricky.   They may want to look at a 3rd party solution for this instead.  I have quite a few clients that use the following:

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Sir LearnalotCommented:
I know this can be done if you setup a SharePoint server...

However, explore the following links for methods on setting this up in Outlook. However, read through them first to see if they satisfy all your requirements. If this answer helped please mark it as the solution, good luck!

Although this one applies to an older version of outlook, the same general procedures apply. Read through the sharing a calender in exchange portion.

This one applies to: Office 365 for professionals and small businesses, Office 365 for enterprises, Microsoft Exchange, Live@edu

This one is about setting outlook calender permissions
praxisdataAuthor Commented:
Thank you for the replies. I'm looking into everything you guys have shared with me.
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praxisdataAuthor Commented:
Third-party solution is less of a headache and more efficient than playing around with Exchange/Outlook etc for 50,000 hours to try and get it to work.
Randy PooleCommented:
Exactly :)
Sir LearnalotCommented:
Glad it worked for you! I tend to always try to do things in-house and free of cost before resorting to outsourcing, but to each his own :)
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