My group tour stopped there while travelling from Fenghuang ancient city to Zhangjiajie. The original name of the town was "Wangcun" or something like that but became known as "Hibiscus Town" or "Furong" after a 1960s or 70s movie which featured it. The old part on a slope with its old buildings,streets and antiques shops are well worth a visit. The main attraction is its waterfall but there wasn't much water when we were there and the guide did not give us time to cross over to the other side for a better look, which was a great pity. The place is certainly very picturesque with countless photo opportunities; it is less crowded and commercialized compared to Fenghuang.
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