I'd been thinking about a way to do the a mark using the WH in some sort of structural way. Ultimately I came across the Modual from Emigre that had the right sorts of letter forms to make it all come together.
I played around a little bit with the idea of using shades of color to separate the various parts of the logo, but I think it works just fine as one color.
Here's the third header/logo design idea for the What a Hotel! website redesign. This one seems to be the favorite so far. There will be one more.