Everyone should realize the hotel safes are actually not really safe.
Once, I couldn't open my safe after coming back to the room, they sent a maintenance guy up and he opened in a couple of seconds.
Plus, many safes are easily portable, not bolted down.

My hotel safe was not working when I was in Lima last week. I put everything in hotel safe, including some cash. They gave me a list of the inventory and counted my money. When I reclaimed my stuff, they counted the money in my presence just to be sure.

I agree putting your valuables in your suitcase and locking it is a better idea. Most thieves (usually hotel staff) don't want to carry something this large.