You seem to be having issues with the wrapping of the variable, try changing the code to the following, I found that it works O.K. with the code as this:
<div class="reveal-more"><a href="#" rel="#new-deals">View More Deals ▼</a></div>
$(".reveal-more a").click( function() {
var moreContainer = $(this).attr('rel');
var moreContainerHeight = $(moreContainer).height();
alert(moreContainerHeight);
return false;
});
I believe your problem was that you had a string object and you were wrapping the string in ''
when jQuery automatically handles this.
EDIT: Amended code