This is one of my fave newer palms. Areca vestiaria Red Crownshaft. I picked this up at Top Tropicals sale a while ago, its growing steadily. Its nicknamed the Poor Man's Lipstick Palm. Same nice color, much more hardy. I have the yellow version too. The crownshafts of these palms are variable and come in several colors. Red, Yellow, Maroon, Purple, Orange.
This is the many years older yellow one