Lady Palm, scientifically known as Rhapis excelsa, is a popular and elegant species of palm tree.t is a member of the Arecaceae family and ability to thrive both indoors and outdoors, making it a favorite among gardeners and plant enthusiasts worldwide. It is easy to grow and tolerant of a wide range of growing conditions. Lady Palm, Rhapis excelsa – the most beautiful and hardy of all palms. These plants act as natural air purifiers, cleansing your surroundings and promoting a healthier environment.Lady Palms prefer mild to warm climates and can withstand temperatures down to 50°F (10°C) without significant damage.