It's a long time since I was involved but I'm sure such a facility exists. Certainly, internal services within the UK are (or were?) often held on the ground to absorb delays, which led to some long-haul crews who had been holding for an hour wondering why someone who had just arrived from Birmingham was taken straight off the stack! Although the airlines love to get the planes up there, ATC doesn't share their enthusiasm because it's no fun trying to shoehorn so many jets into so little airspace.
At the opposite end of the stick.. I have often sat at Heathrow Approach with my headset off and no traffic to talk to..... then, when I've asked, inbounds have reported holding on the ground at, for example, Frankfurt, or Oslo, for a "slot" to Heathrow. The problem has been the intervening airspace, not the actual situation at Heathrow. Conversely, traffic sometimes takes off with a "no delay" situation only to be held on arrival.
There are many factors and the situation can change so rapidly - maybe the wind will increase, thereby slowing down the landing rate, and a holding situation rapidly develops. Maybe a runway gets closed for 5 minutes.. maybe bad weather arrives. Maybe a medical emergency causes problems, or some charlie on a photographic flight messes up the traffic sequence. It's all good fun, though!!
Back to my rubber ring and slippers.........