Madhushala (Madhu=honey, used for liquor here, Shala=home) is Hindi for a place that sells and serves liquor. Hence, you can say Madhushala means a bar.
At the same time, Madhushala is a more sophisticated word than bar. Mostly Madhushala is compared to a tavern.
Madhushala is also the name of one of the most famous poetry book written by Harivansh Rai Bachchan.