Your button's backmark says Waterbury Co's (abbreviation for Companies). The Waterbury Button Company changed its name to Waterbury Companies in 1943. Your back-view photo shows your button has a self-shank back, so it is not a Military button. It is most probably what Waterbury calls a Career Uniform button (with the letter on the front being the initial of the company) -- or perhaps a School-button. I looked through all the hotel buttons at the Waterbury website for you, but found no match.
You've got three options:
1- Hope somebody here will ID it for you.
2- Go to the Waterbury website and search through all the Career Uniform button-photos there. www.waterburybutton.com
3- Use that website to email their Customer Service Department a photo of your button, and ask them to ID it.
If you do a google search for "Stafford Crest blazer buttons", you'll find a few different button styles, but all have the same crest. Haven't had luck finding a particular school, college or university with this same crest sofar.
EDIT: I believe it's a line of Blazer's. Found a few on Ebay with different logo buttons. Trying to hunt down more info about them.
EDIT 2: Here's a link to one that has the same logo on an inner tag.
Looks like the manufacture called "Stafford" made clothing and then are or were sold by JC Penney and Bagir! the button came off one of their clothing line products. Waterbury would have made the buttons for that particular clothing product.