Automated Storage and Retrieval Systems (AS/RSs) effectively support warehouse operations in order to increase production and logistics efficiency. Literature about travel time computation in multi-shuttle AS/RSs still needs to be enhanced since most of the existing contributions rely on the same formulation, namely the Meller and Mungwattana’s equation. Based on well-established theoretical assumptions and on a simulation model, the present work puts forward a revised version of the Meller and Mungwattana’s formula for dual shuttle systems. In particular, the constant factor multiplying the travel between time is replaced by a coefficient depending on the rack configuration and on the input and output points of the storage system. The new equation is tested against widely applied models for AS/RS travel time calculation and proves to result in shorter times than the original Meller and Mungwattana’s equation. A linear regression analysis is completed in order to find a numerical formulation of the proposed coefficient. Taking into account some key physical characteristics of a warehouse while estimating travel times allows improving the design and management of storage areas. Future research will focus on deepening multi-shuttle travel time calculation by addressing crane acceleration and deceleration, different rack and crane configurations, as well as class-based storage.