Palfrey

A palfrey is a type of horse that was valued as a riding horse in the Middle Ages. It is not a breed.
Breeding.
The term 'palfrey' usually meant a more expensive and well bred type of riding horse popular during the Middle Ages, sometimes equalling the Knight's Destrier in price. It was popular with nobles, ladies and knights for riding, hunting and ceremonial use during the medieval period. A palfrey had a smooth, ambling gait. 
It was an ideal horse for traveling long distances comfortably.