I can't speak to Outlook @sourabh but I can tell you what I've done in Gmail. The method might be something you can implement?
My website has a calendar that solely belongs to the website. The availability is treated as a resource so more like booking a conference room. If I have a meeting on my schedule I also add the website calendar to it so that time can't be double booked. If someone books something on my website via the calendar it copies me (or whoever is doing meetings) and my calendar updates.
In that way the website calendar can be shared and everyone can list their availability or lack there of in one calendar. Moreover it keeps my calendar details private as it doesn't show meeting details but only availability. Other resources in our office also have their own calendar so the website isn't special but it really helps to keep things straight and it is fairly expandable? Does that help any?
Somebody just told me that you could setup a custom view in Outlook. Let me know if that would be helpful?
...turns out that my two cents is worth less or more depending on the current exchange rate.
roy darling *my posts seem a lot shorter in my head