Industrial action began at 6.30pm GMT yesterday and will continue throughout today (6 August).
The BHA has warned that restaurants, pubs and hotels are set to be hit hard, facing staff shortages and varying customer footfall.
Tube strikes have historically had a mixed impact on the hospitality sector, though some operators reported losses of up to 40 per cent during strikes in 2014.
Online searches for London hotels fell by almost a quarter during the tube strike in July, with the BHA expecting a similar drop this week.
BHA chief executive Ufi Ibrahim said: “London’s economy is heavily reliant on its fast and reliable public transport network to move around the capital’s residents, tourists and visitors.
“Strike action during busy summer months is a real nightmare for our hotel, restaurant and visitor attraction members who have to maintain high standards while facing the staff shortages and unpredictable customer footfall resulting from the transport challenges."
Tube workers Unions are striking over pay and conditions offered on the new night service, which the BHA has previously previously welcomed as being 'excellent for London hospitality businesses'.
“London needs the new round-the-clock tube service on weekends as soon as possible: it is essential to keep up with global cities like New York and Berlin, and to support London’s 24-hour lifestyle," said Ibrahim.
"The unions should call off their strike action and allow London to continue to welcome visitors with open arms.
“We hope that trade union leaders will be able to avoid further strike action in the future so our members can continue to welcome guests uninterrupted and to protect London’s place as the top destination in the world.”