Hotels can and should adjust pricing to generate the most revenue they can. That’s called the room rate, and hotels publish numerous different rates every day and vary their rates as needed. They can also incentivize use of on-property facilities, or raise and lower prices at those.
The worst approach would be for hotels to act in a deceptive manner, and undermine trust, when they’re struggling to fill even 40% of rooms and need that trust to get customers to travel let alone choose them for that travel. And raising pricing when occupancy is low, in the middle of a severe recession, seems like the height of stupidity.