Precis Holdings has put four of its central London hotels up for sale-and-leaseback for an estimated £150m and appointed Ernst & Young as its financial advisor.

The hotels, which are located in Paddington, Piccadilly and Kensington, have all recently been refurbished and are operated by Precis under the Best Western and Best Western Premier brands.

Andrew Ovey, of Ernst & Young real estate team, said: “These are good, well managed assets that have been very resilient in the wake of recent terror attacks. Market appetite for this type of product is very strong at the moment.”