A word of caution: as noted in RS France guidebook, le Walt Hotel in Paris is stringent with its non-refundable policy, even at the time France was not allowing international travelers to enter the country. They have provided a voucher for later travel although it requires a six month advance notification for rebooking! I guess we need to get that Rick Steves trip rebooked ASAP....
I think you will find that all the French hotels are offering vouchers. I think that is a current regulation. Trying to help the cash flow of small hotels. Want to keep them in business. These are tough times and everyone needs to bend a little.
I believe the regulation allows you to exchange the voucher for a refund at 18 months. You may want to post a question about the regulation in the "France" forum for exact info and to be sure Zi'm correct and then speak to the hotel. Others on this forum who have been affected have talked about it.
I lost $500 to a hotel in Dubai that offered for me to rebook for any night in March or April 2020. Not too useful. Lesson learned about non-refundable hotel rooms.
I believe the regulation allows you to exchange the voucher for a refund at 18 months
.... if the hotel still exists and is solvent
I’ve re-read my communication from the le Walt Hotel, following Joe’s forum comment. Yes, it is an 18-month extension from the time I made the reservation, but after the 18 months—Nov 2021 for me—the “credit note reaches its expiry date.” No refund noted. I will make attempt to stay at the hotel, hopefully after being able to re-book our Rick Steves tour next year.