You can schedule time off for people or groups from within the task menu on the Schedule. There are three default types of time off available:
Paid Time Off
You can create additional time off types from the Time Off tab on the Team Settings page (e.g., Team Building), or change one of the existing types (e.g., Vacation instead of Holiday).
You can assign time off to multiple people at once by selecting them from the Assigned To drop-down or by typing in their name.
To assign time off to everyone currently viewable on the Schedule, click Select All.
For more on public and team holidays, check out this article.