The Mohinani family acquired the Café Berlin building near Plaza de Callao in Madrid and plans to convert it into a luxury hotel. The new hotel is expected to opened within the next few months. The Mohinani family also purchased two other adjoining buildings, Calle Jacometrezo, 6 and 8. The vendors reportedly had no liquidity to refurbish the buildings or were in financial straits, according to news reports.
