The Formule 1 hotel provides as expected: a basic night but good value for money, very good for a no-frills stop whilst on a long trip. One key advantage is that there is a reception 24 hours a day, a really pleasant lady welcomed me at 2:30 AM, an ran an efficient check-in. Note you will likely need to pay the local tax, not included in most quotes, this usually amount to a fraction of an Euro or so, (1% of the stay) so no big deal.
Rooms are classic, cleaner than other Formule 1, no toilet in the room but a small vanity unit, and you may want to take your own towel. It was quiet (not too much noise) despite being full.
Wifi is provided and good enough to stream.
On the downside, the lighting in the room is quite harsh.
Location is just outside of the city centre, as Chaumont is a small city, it should suit most circumstances. It is easily approached from the motorway, avoiding the city. I was last one in and found some free car parking on site.
In conclusion, you get a basic night (as you expect with Formule 1), with the added bonus of nice staff.