Room 312 at the Lakeview Hotel, which overlooks Toluca Lake in the town of Silent Hill, was the very room that James and Mary stayed in on the vacation they took shortly before Mary's terminal diagnosis, and was the couple's special place, as referred to in Mary's letter to James in Silent Hill 2.
When James finds the map of the hotel on his visit to the town in search of Mary, Waiting for you is written on room 312, giving James hope that Mary is there, and that is also what is written on the back of this metal Lakeview Hotel keyring, which is made of metal, individually numbered and limited to 5000 worldwide.