What's the general consensus on nonrefundable hotels and chargebacks when the hotels themselves are closed and the hotel's policy is no refunds?

I have a reservation at an H10 hotel for the beginning of May in Barcelona. Most (if not all) hotels in Spain are currently closed, and if I had to guess, will probably be closed for the time of our reservation (2 May - 5 May).

H10's policy on this as it stands right now is that they will re-book your stay for another date up to a year in advance. This is fine, and we could make it work, but frankly I'd rather have my $750 back since I have no idea whether this particular hotel is even going to be around in another year if closures are prolonged. They haven't yet extended this policy beyond 30 April but I expect they will in the next week or so. I previously contacted them through email and they weren't particularly helpful.

I charged this to my AMEX back in January. Given the uncertainty around whether hotels will be open in the beginning of May, is a chargeback the right route to go here? Should I wait until our reservation passes to confirm the hotel is indeed closed, or should I file one right away?

Or, is the chargeback the wrong route, and should I instead take them up on their offer to re-book?