When I find nearest restaurants in Google\'s Maps Android Application the restaurant name is showing near to marker icon as default. (Refer Google Image).
But in my
My approach to your situation would be to use Dynamic Icons from Google Maps.
It may be deprecated, but I am unaware of a better alternative at the moment. With this library you would be able to create pins with icons and letters inside, which I believe is exactly what you want.
For example, the following link
https://chart.googleapis.com/chart?chst=d_map_spin&chld=2.1|35|FFFF88|11|_|A|Balloon!
will create the following image

The library is extensive and has alot of options, this is just the tip of the iceberg.
Hope it helps!