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I am a former hotel GM. From my experience, the in room safe is next to useless. Maybe worse than useless, because using it signals that you have something worth stealing inside. Hiding your stuff in the mini bar would only be a little bit worse than the safe, IMO.

The safe deposit boxes are a better option. The hotel is supposed to issue you the only key to the box. That key, with the hotel's guard key are both required to open the box. The hotel staff has no reason to know or even ask what is being kept in the box.

If you lose the key, expect to be charged a locksmith fee for the lock to be drilled out and rekeyed.