Indeed, it is a very well grown palm, but its not Chamaedorea elegans. That species is a small growing palm to little more than 2m high and with a solitary, cane-like trunk that never forms basal suckers. The flower spike of your plant is also very different. Difficult to tell exactly which Chamaedorea you have from the pic. but it has the look of C. hooperiana about it. Very nice palm