Absolutely, sleep is key to recovery, along with diet and certain supplements.
Both going to bed early enough and sleeping late enough have been crucial for my recovery. For me though, I've noticed that sleeping late enough is even more important than going to bed early. Even if I go to bed at 10 pm, if I have to wake up at 7 am I'll be crushed during the day. It could be very individual thing though.
Usually I go to bed between 10-11 pm and wake up at 8.15. I wish I could sleep even later every morning but I gotta get to work.