Rongqiao Group was founded by Mr. Lin Wenjing, an overseas Chinese leader in Southeast Asia in 1989. It becomes a top brand enterprise in real estate industry of Fujian after a decade of growth.
It remains to be seen whether the Versace name will help the project become a success: Manila's market for high-end real estate lags behind those in some other Asian cities.
Originally it was stated that they were purchasing around 250 Golden Tulip locations (out of over 700 which the Golden Tulip brand managed), or if its purely a non-real estate purchase.