Tourism development in the greater Yellowstone region is examined using the tourism life cycle concept. This concept postulates that, over time, tourism destinations experience known and ordered stages of development. The stages include exploration, involvement, development, consolidation, stagnation, and then a series of choices ranging from rejuvenating to decline. Few empirical assessments of the tourism life cycle concept exist for federally managed resources. Four dimensions provided data for monitoring the tourism life cycle. They are visitation trends, growth of the service economy in the region, host residents’ perceptions of current tourism development, and current biological indicators of the ecosystem. These four sources of information indicate that tourism development in the greater Yellowstone region is more intricate than the life cycle concept would suggest. The information reveals that development is not at a specific stage in the cycle. Development and its attendant impacts on the resource are uneven with local residents, the business community, and visitors exhibiting development stage characteristics and the biological indicators suggesting the region is in the consolidation stage. Policy implications for future management of tourism development in the greater Yellowstone region are discussed, along with a commentary on the methodology needed to assess development using the tourism area life cycle concept.